Bitcoin Drops under $79K
The decline in Bitcoin's price to below $79,000 is attributed to expectations that the U.S. Federal Reserve will raise interest rates following strong employment data and inflationary pressures caused by rising oil prices. Bitcoin decreased by 0.85% to $78,700, while Ethereum and Solana also fell, whereas Ripple's price remained steady at $1.40. The rise in inflation and expectations of interest rate hikes are fueling volatility in the cryptocurrency market.
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