Bitcoin fell sharply Saturday as investors reassessed the outlook for U.S. interest rates following President Donald Trump’s nomination of Kevin Warsh for chair of the Federal Reserve.
Key Facts
#Bitcoin was priced around $84,000 Friday, but it abruptly dropped Saturday and has fallen to $77,900 at the time of writing, down more than 7% in the past 24 hours and approaching levels last seen when Trump was elected as president in 2024.
At its peak in October, bitcoin reached a price of $126,198, but it has mostly dipped since then as investors pulled back from riskier assets amid uncertainty over the Federal Reserve’s path on interest rates.
The decline was not limited to bitcoin, with the broader cryptocurrency market also sliding this week as major tokens including #Ethereum #BNB #XRP and Solana all falling at least 10% in the past week, according to Coindesk.