Bitcoin Dips Under $77K As Traders Fear Fed Rate Hike

Bitcoin has dropped below the $77,000 mark, leading a broader market correction that hit the wider crypto sector hard over the past 24 hours. Data shows that ninety five out of the top one hundred tokens fell during this period. Bitcoin itself has lost more than 5 percent of its value over the week.

Privacy coin Zcash led the losses among major tokens as selling pressure intensified. Analysts point to shifting trader expectations around upcoming Federal Reserve interest rate decisions as the primary driver behind the cautious mood. Higher rates usually reduce appetite for risk assets like cryptocurrencies.

Market participants are now watching key support levels to see if the downward trend will continue or if buyers will step in at these lower prices. Keeping an eye on macroeconomic data releases will be crucial in the coming days to gauge where the market heads next.