- Published on
Bitcoin slips under $80,000 as traders de-risk ahead of Fed meeting
- Authors
- Name
- DeepHorus
Bitcoin slipped nearly 2% to about $79,800 on Monday Asian morning, falling below the $80,000 mark as traders reduced risk before the Federal Reserve’s Wednesday meeting. The move dragged most major tokens lower and added to caution across technology markets. Investors are focused on whether the Fed signals a December rate increase.
Ether dropped nearly 3% to just above $2,300, while XRP lost about 3% to $1.28. SOL slid 2% and barely held $100, and DOGE, ZEC, HYPE and BNB each fell 1% to 2%. TRX was the only major token in the green, up less than 1%, according to CoinDesk data.
The Fed announces its decision on Wednesday, and traders will listen to Chair Kevin Warsh’s press conference for hints of a December hike. BTSE COO Jeff Mei said investors are already de-risking and that a strong hint would matter for crypto. Higher rates make borrowing costlier and tend to pull money from riskier assets.
A continuing selloff in Asian technology shares weighed on sentiment. South Korea’s Kospi fell 1% after Goldman Sachs strategists cut their 12-month target by 25%, while chip stocks led losses on Japan’s Nikkei and Chinese AI model developers slumped. The Kospi is closely watched for AI sentiment because chipmakers such as Samsung Electronics carry heavy weight.
Nasdaq 100 futures slipped 0.1% as investors awaited earnings from major U.S. technology companies. The MSCI Asia Pacific Index fell 0.1%, extending four straight weekly losses. That is its longest losing run since April.
Oil offered some relief, with Brent crude falling 2% from a six-month high to about $114 a barrel after President Donald Trump said it was "getting to be decision time" on a deal with Iran or resumed attacks. Treasuries rose. Bitcoin must reclaim $82,500, the floor it lost last Thursday, to restore buyer confidence.
