Bitcoin fell below $70,000 early Friday, touching its lowest level since Aug. 19, as a stronger dollar and rising Fed rate-hike odds weighed on risk assets, CoinDesk reported.
The largest cryptocurrency dropped to $69,000 and is down 17% this quarter, reversing much of the rally of the previous three months. Ether fell below $2,000 for the first time since August, XRP traded near $1, Solana slipped below $80 and smaller tokens including GT, Stacks and XMR fell 7% or more.
The Dollar Index traded above 103, its highest since April 2025, having risen nearly 2% since early October as expectations for Fed tightening firmed. Odds of a half-point December increase have increased since this week's hotter-than-expected October CPI reading.
The largest cryptocurrency dropped to $69,000 and is down 17% this quarter, reversing much of the rally of the previous three months. Ether fell below $2,000 for the first time since August, XRP traded near $1, Solana slipped below $80 and smaller tokens including GT, Stacks and XMR fell 7% or more.
The Dollar Index traded above 103, its highest since April 2025, having risen nearly 2% since early October as expectations for Fed tightening firmed. Odds of a half-point December increase have increased since this week's hotter-than-expected October CPI reading.