Bitcoin is back below $81,000 as Fed rate uncertainty weighs

BREAKING: $BTC falls back below $81,000, down over 3% on the day, as Fed rate uncertainty rattles markets. 📉

Bitcoin just slipped back under 81 thousand dollars.

It's down more than three percent on the day, and you can see the slide right here, a steady bleed through the session with buyers nowhere in sight. No hack, no scandal, no exchange blowing up. Just the Federal Reserve, and the fact that nobody can agree on what it does next with rates.

That uncertainty is the whole story. When traders can't price the cost of money, the first thing they sell is the stuff with no cash flow, and bitcoin sits right at the front of that queue. Every inflation print and every word out of the Fed has been whipping this market around for weeks, and tonight crypto caught the worse end of it.

So the asset that was sold as the hedge against central banks is trading like a leveraged bet on one. That's the uncomfortable truth under 81 thousand.

This is Dave King, reporting for HIT.