Crypto Market Slumps as Bitcoin Falls Near $77,000, Total Market Cap Drops 1.55%

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โดย Coinpedia·GLOBALUS·Read original
Summary · why it matters

The cryptocurrency market faced another round of selling pressure, with Bitcoin falling sharply after failing to hold its recent recovery and trading near $77,000, down from $78,500 over the past 24 hours. The total market capitalization fell 1.55% to $2.62 trillion, while 24-hour trading volume stood at about $84.3 billion, up roughly 3.1%. Bitcoin's market share remains at 59%, trading at around $77,225. Ethereum remained capped below $2,500 but held above $2,450, while XRP dropped more than 3% to $1.34. BNB traded at $714, and Solana and Hyperliquid fell below key support levels at $100 and $80 respectively. The main pressure came from the broader financial markets, including Brent crude oil prices surging to $109.97 a barrel amid Middle East tensions around key shipping routes, marking a weekly gain of about 11%. The probability that the Fed will raise interest rates by 0.25% next week rose to about 71% from 61% in previous trading. The latest US PPI rose 0.4% in August and 5.4% year on year. The 10-year US Treasury yield hit 4.979% and the 30-year rose to about 5.38%, while the US dollar index hovered near 99. In addition, Bitcoin ETFs recorded outflows of $120.2 million, following $46.6 million the previous trading day, bringing total withdrawals to about $166.8 million over two consecutive sessions, and more than $386 million in liquidations occurred, including about $270 million on the long side.

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％Effective Federal Funds Rate
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Probability the Fed raises rates 0.25% next week rose to about 71% from 61%, lifting the expected effective fed funds rate.

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