Bitcoin drops below $80,000 as traders cut risk before Fed meeting

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Bitcoin fell under the $80,000 level as investors reduced their exposure to risky assets ahead of an upcoming Federal Reserve meeting. Ether and XRP posted the steepest declines among the major cryptocurrencies. The sell-off also extended a setback for the AI-focused trade in Asian markets. Goldman Sachs lowered its price target for South Korea's Kospi index by 25%.

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