Bitcoin slips under $80,000 as traders de-risk ahead of Fed meeting

Ether and XRP led losses among the majors as the AI trade took another hit in Asia, where Goldman Sachs cut its Kospi target by 25%.

The top 3

Macroeconomic Drivers and Fed Policy Expectations: Investors are pricing in a potential December rate increase as a response to persistent inflation and energy costs. Higher interest rates typically reduce market liquidity, creating a negative feedback loop for volatile assets like Bitcoin, which requires a recovery above $82,500 to restore bullish sentiment.
Regional Tech Sentiment and the 'AI Trade' Correction: The sell-off in Asian AI-linked technology stocks serves as a proxy for cooling growth expectations, notably exemplified by Goldman Sachs cutting its Kospi target by 25%. Because traders frequently view AI-exposed indices like the Kospi as indicators of global risk appetite, weakness here disproportionately spills over into crypto markets.