Bitcoin Falls Below $79,000 as Fed Rate Hike Odds Hover Around 60%

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Bitcoin dropped under $79,000 on Tuesday as selling pressure hit the broader cryptocurrency market. Every major token recorded losses on the day, with Zcash among the hardest hit. Despite the daily decline, most cryptocurrencies retained their gains from earlier in the week. Traders are currently pricing in approximately a 60% probability of a Federal Reserve interest rate hike at next week's meeting, weighing on risk assets.

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