Bitcoin price drop takes it to $79,800 as investors cut risk before Fed meeting

A Bitcoin price drop of nearly 2% pushed the token to about $79,800 during Asian morning trading on Monday, October 26, as investors reduced risk before the Federal Reserve’s Wednesday meeting. The retreat below $80,000 came alongside further losses in Asian AI stocks, with oil prices, inflation and the US-Iran conflict weighing on markets. Key takeaways Ether and XRP fell roughly 3%, while TRX edged higher. BTSE’s Jeff Mei is watching for signals of a December rate increase. Goldman Sachs cut its 12-month Kospi target by 25%. Bitcoin’s price drop spreads across major tokens Selling extended across almost all major cryptocurrencies. Ether fell nearly 3% to slightly above $2,300, while XRP declined about 3% to $1.28. SOL lost 2% and barely held $100.

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