Bitcoin slips below $80,000: Why the crypto market is under pressure

Bitcoin slipped below the $80,000 mark on Monday after a weekend selloff pushed the cryptocurrency to its lowest level in more than a month, as rising oil prices, inflation concerns and uncertainty ahead of the US Federal Reserve’s policy decision weighed on sentiment across digital assets. Bitcoin was trading around $79,600–$80,400 in the market updates provided by crypto platforms on October 26. Ethereum was trading around $2,300–$2,327, while other major cryptocurrencies, including BNB, XRP and Solana, also faced pressure. The broader market remained weak, with nine of the 10 largest cryptocurrencies by market capitalisation declining, according to Purvang Mashru, Lead Analyst at BitDelta India. However, some smaller tokens bucked the trend, with Quant, Pyth Network and Ethena among the gainers cited by CoinDCX Research. Why is Bitcoin falling?

First reported by CNBCTV18. This page is a short excerpt; the full text is theirs.