Bitcoin slips under $80,000 as traders de-risk ahead of Fed meeting — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bitcoin fell nearly 2% to about $79,800 in Monday Asian trading as investors reduced risk before Wednesday’s Federal Reserve meeting, slipping below the $80,000 mark.
- Ether fell nearly 3% to just above $2,300 and XRP lost about 3% to $1.28; SOL slid 2% and was barely holding $100, DOGE, ZEC, HYPE and BNB each fell 1%-2%, and TRX was the only major in the green at less than 1%.
- Federal Reserve announces its decision Wednesday, with traders watching Chair Kevin Warsh’s press conference for hints of a December rate hike; BTSE’s Jeff Mei said the Fed probably would not change rates this week, but the December outlook matters most to crypto.
- Goldman Sachs cut its 12-month Kospi target by 25%; South Korea’s Kospi fell 1% as the Asian AI selloff continued, with chip stocks leading losses in Japan’s Nikkei and Chinese AI model developers also declining.
- MSCI Asia Pacific Index fell 0.1% and extended its losing run to four straight weeks—the longest since April—while Nasdaq 100 futures slipped 0.1% ahead of major U.S. technology earnings.
- Brent crude fell 2% from a six-month high to about $114 a barrel after Trump said it was “getting to be decision time” on reaching an Iran deal or resuming attacks, offering markets some relief as Treasuries rose.
- Bitcoin needs to regain $82,500, the floor it lost last Thursday, before buyers can call this week’s dip a pause.
Why it matters: For crypto traders, Wednesday’s Federal Reserve decision is the immediate liquidity test: investors are watching for a December hike, and higher rates tend to pull money out of riskier assets. Bitcoin’s $82,500 threshold gives buyers a concrete level for judging whether this week’s selling has stabilized.
Ask SkimNews
