Bitcoin drops below $80K to a 5-week low while XRP gains on national bank trust approval; total crypto market cap declines 0.4% to $2.67 trillion.
Macro & Markets ·
Bitcoin has slid to a 5-week low of $79,100, falling below the $80,000 level and dragging its market capitalization down to $1.6 trillion. The downturn comes as the cryptocurrency approaches an FOMC meeting widely expected to inject additional volatility into digital asset prices. In the same window, XRP has advanced to $1.30 following news that Ripple secured regulatory clearance for its national bank trust operation, outperforming the broader market malaise that has seen altcoins like QNT and ZEC notch modest gains while others tumbled sharply.
The cryptocurrency market's aggregate capitalization dropped 0.4% to $2.670 trillion over the preceding 24 hours. Bitcoin's dominance ratio—its share of total market value—has compressed below 60% as investors rotated into select alternative assets. Rebound attempts in Bitcoin have stalled at $81,000, with the asset hovering near $79,500 as of the latest update, signaling buyer exhaustion at those levels.
The immediate outlook hinges on the Federal Reserve's policy decision and forward guidance, which trading desks expect will determine near-term directional conviction across crypto markets. XRP's positioning at the $1.30 resistance level leaves its next move uncertain, while Bitcoin's ability to stabilize above $80,000 remains in question.