BTC Holds Steady Above $78,000 Amid Major Crypto Sell-Off

Bitcoin has managed to stay above $78,000 as major cryptocurrencies decline due to hawkish Federal Reserve bets.

The price of Bitcoin has remained steady despite a decline in other major cryptocurrencies. According to data, the largest cryptocurrency by market capitalization is currently trading at around $80,500, up 0.5% from its previous value.

The drop in major cryptocurrencies can be attributed to investors' concerns over the Federal Reserve's hawkish stance on interest rates. Many analysts believe that a strong US dollar and rising interest rates will negatively impact the cryptocurrency market. However, Bitcoin has thus far managed to withstand this pressure.