Bitcoin Slips Under $79,000 Amid Hawkish Stance and Rate Hike Expectations

Bitcoin's price slipped below $79,000, according to Moomoo data. This comes as the Federal Reserve's interest rate hike odds hold near 60%. The UBS Group has turned hawkish, raising its forecast for two rate hikes.

This shift in monetary policy expectations puts pressure on Bitcoin, increasing the opportunity cost of holding it. Higher interest rates make non-yielding assets less appealing to investors.

Meanwhile, the Liquid Network has recovered 3,400 Bitcoin from white-hat hackers following a hack. Negotiations are underway for the return of the remaining stolen funds.