Bitcoin drops below $80,000 as crypto ignores Asian tech rally, Fed meeting begins Bitcoin fell 0.4% to around $79,700 since midnight UTC while Asian tech stocks rallied.
The DeFi index dropped 1.8%, and the Fed is set to begin a two-day meeting
Bitcoin slipped back under $80,000, trading near $79,700 and down 0.4% since midnight UTC, while ether fell 0.5%. Crypto missed a rally in Asian tech shares, with South Korea’s Kospi rising 3.1%. The DeFi index dropped 1.8%, the most of any CoinDesk index.
The Fed begins a two-day meeting today, with an interest-rate decision due Wednesday and CME’s FedWatch tool showing around a 90% chance of no change. Bitcoin BTC$84,459.46 slipped below $80,000 on Tuesday, dropping 0.4% since midnight UTC to near $79,700. Altcoins fell further, with ether ETH$2,490.55, the largest, losing 0.5%.