Bitcoin Stalls Below $80K Amid Fed Hike Fears and Tether Security Concerns

Bitcoin's price has stalled below $80,000 due to concerns about a potential Federal Reserve rate hike. The US payroll data was stronger than expected, reviving fears of higher interest rates.

The market is waiting for the upcoming CPI report to see if it will confirm these expectations and drive the price down further.

Tether (USDT), the largest stablecoin issuer, faces scrutiny over its security after a firm rated its USDT on Tron poorly due to administrative controls. However, audits show that Tether has solid reserves backing its stablecoins.

A hacker linked to a Coldcard exploit has moved $7.7 million in stolen Bitcoin, raising concerns about the safety of cryptocurrency storage solutions.