BTC Slumps Below $77K as Hawkish Fed Chair Crushes Crypto Rally
Bitcoin's price rally that pushed it above $81,000 stalled after the new Fed Chair took a hawkish stance. This sent BTC plummeting to a five-day low below $77,000.
The move highlights macro risk to crypto markets and has had a ripple effect on other altcoins.
Most of these assets fell 3-5% in value, with Ripple's XRP dropping from its recent peak at $1.70 to under $1.40.