Bitcoin Tumbles Below $80K Amid Interest Rate Concerns and Liquid Network Hack

Bitcoin's price dropped below $80,000 following stronger-than-expected US employment data that raised chances of a Federal Reserve rate hike to 60%. The cryptocurrency hit its quarterly high of $82,178 last week but retreated amid rising interest rate concerns and geopolitical tensions.

The recent security breach on the Liquid Network, where about $320 million in bitcoin was stolen, added to market uncertainty. However, US spot Bitcoin ETFs saw $1 billion in inflows last week, signaling sustained institutional interest.