Bitcoin (BTC) Drops Below $79,000, XRP Leads Crypto Market Losses as Fed Rate Hike Bets Intensify

The cryptocurrency market is experiencing significant downward pressure, with Bitcoin (BTC) falling below the critical $79,000 support level. XRP has emerged as the leading loser among major altcoins, suffering substantial losses amid a broader risk-off sentiment. This sell-off is being driven by growing trader speculation that the Federal Reserve may implement a rate hike, a scenario that typically strengthens the US dollar and reduces appetite for risk assets like digital currencies. The shift in Fed policy expectations has triggered a wave of deleveraging across the crypto sector, with investors closely monitoring macroeconomic indicators for further clues on the central bank's next move.