Bitcoin Tumbles Near $77k Support as Global Bond Selloff Continues

Bitcoin's price has been hovering around $76,500 on Wednesday as it continues to test its August rally. The largest cryptocurrency by market capitalization has been unable to sustain a recovery after being rejected at $81,500 last Friday.

The global bond selloff is putting pressure on Bitcoin's price, but its downside appears broadly protected due to an established moving average cluster.

Ripple (XRP) has trimmed its gains and is trading around $1.32 on Wednesday after a 72% rally from $1.00 to $1.70 in August stalled on profit-taking and the need for fresh liquidity.