Bitcoin Tumbles Below $79,000 Amid Rising Inflation Fears

Bitcoin's price has been under pressure, slipping below $79,000 on Tuesday to settle at around $78,800. This represents a decline of over 1% on the day and puts an end to its small weekly gain.

The token has struggled to break above $80,000 for two weeks now, failing to hold onto the gains it made in August. Zcash, on the other hand, took the biggest hit, plummeting nearly 5% to around $1,125 despite a strong seven-day run that saw its price rise by 33%.

The broader market is also feeling the squeeze, with Hyperliquid's HYPE dropping over 3% and Solana falling more than 2%. Ether slipped 1% to just under $2,482, while XRP eased to $1.39 and Tron barely moved at around 33 cents.

Dogecoin and BNB managed to hold their ground, each losing only a fraction of a percent despite being among the strongest performers over the past seven days.