Crypto news report · source clearly identified
Bitcoin Slides Below $79,000 as Zcash Posts Biggest Drop Amid Fed Rate Hike Speculation
All major cryptocurrencies fell on Tuesday, though most retained weekly gains, as traders priced a roughly 60% probability of a Federal Reserve rate hike next week.
Bitcoin slipped below the $79,000 mark on Tuesday, marking a broad pullback across the cryptocurrency market. While every major token posted losses, most assets continued to hold onto their weekly gains.
Market Overview
Traders are currently assigning about a 60% chance to a Federal Reserve rate hike scheduled for next week. This probability appears to be influencing market sentiment, contributing to the day's declines.
Top Loser: Zcash
Zcash emerged as the biggest laggard, registering the largest percentage drop among the leading tokens.
Weekly Performance
Despite the Tuesday downturn, the majority of cryptocurrencies remain in positive territory for the week, indicating resilience amid the uncertainty surrounding monetary policy.
Source & attribution
News Source
- Publisher
- CoinDesk
- Original date
- September 8, 2026, 4:40 AM
- Original headline
- Bitcoin slips under $79,000, Zcash leads losses as Fed hike odds hold near 60%