Bitcoin Dips Below $80,000 as XRP Gains Amid Fed Rate Hike Speculation

Bitcoin slipped below the $80,000 mark during Asian trading after a brief rally above that level earlier in the week. The crypto giant is now trading at $79,447, up 1.39% from the previous close. Despite the pullback, Bitcoin remains 14% higher on the week.

XRP, meanwhile, is on the rise, trading at $1.43, up 1.06% on the day and 28% higher over the past seven days. The token’s recent gains have positioned it as the top performer among major cryptocurrencies.

The dip in Bitcoin comes as traders reassess the recent rally and increase bets on a potential Federal Reserve rate hike. Short‑dated U.S. Treasury yields have slipped, reflecting a shift in expectations that could dampen the supportive yield backdrop that helped Bitcoin climb from below $68,000 last week.

Market participants are now eyeing Fed Chair Kevin Warsh’s keynote at Jackson Hole on Friday, ahead of the Fed’s September 15‑16 policy meeting.

Other notable moves include Hyperliquid’s HYPE falling more than 1% to just below $81, TRON slipping less than 1% to just above $0.33, Solana rallying nearly 4% to above $101, Ether rising about 1% to just below $2,494, BNB adding almost 1% to just under $703, and Dogecoin staying below $0.09.

Analysts note that while daily technical indicators show overbought conditions for Bitcoin, such levels do not always trigger a reversal. The May high near $82,820 remains a key level; a sustained break above it could pave the way toward $100,000.

Overall, the market’s internal structure and open‑interest trends suggest the recent pullback may be a temporary correction rather than a sign of a full‑blown retracement.