Bitcoin Plummets Below $77K Amid Fed's Rate Hike Warning

The Federal Reserve's announcement of a potential rate hike has sent shockwaves through the cryptocurrency market, with Bitcoin plummeting below $77,000.

The rate hike, which is scheduled to take place in October 2026, was indicated by Federal Reserve Governor Christopher Waller due to persistent inflation concerns. This hawkish shift in monetary policy has led to increased uncertainty in the market, causing risk assets like Bitcoin to fall.

The price of Bitcoin dropped 0.54% in value, trading at $76,763 as of press time. Ethereum also followed suit, decreasing by 0.63% to $2,118.79. However, not all cryptocurrencies were affected equally, with several altcoins such as BNB, DOGE, LINK, and NEAR showing gains.