Crypto markets trade mixed as Bitcoin dips below $80,000 on Fed rate hike bets

Cryptocurrency markets posted mixed trading over the past 24 hours with a broader downward bias, as Bitcoin retreated 0.52% to $79,621.90 on CoinMarketCap data, Anews.az reported.

Major altcoins also lost ground: Ethereum slipped 0.36% to $2,498.95, BNB declined 2.51% to $745.61, Monero dropped 4.40% to $532, and Bitcoin Cash shed 2.89% to $255.38. Gold-pegged tokens tracked lower as well, with PAX Gold (PAXG) softening 0.68% to $4,402.05 and Tether Gold (XAUT) sliding 0.60% to $4,399.87. The CoinMarketCap 20 Index fell 0.39% to 164.61 points.

Bucking the wider retreat, Bittensor climbed 13.83% to $270.82, while privacy-focused Zcash rallied 11.16% to $1,190.12, supported by widening institutional accessibility and speculative inflow.

Downward pressure across primary crypto tokens follows robust U.S. payroll and labor prints, lifting market-implied odds of a Federal Reserve rate hike in September to roughly 57%. Market participants now await crucial U.S. consumer inflation figures due later this week.

N.Tebrizli