Bitcoin and Altcoins Plunge: What’s Driving the Market Down?

Bitcoin fell back to around $78,300 on September 8 after surpassing $82,000 last week. Ethereum trades near $2,480, XRP around $1.39, and Solana loses about 2% on the day. The decline affects the entire market, but it does not yet resemble capitulation: crypto capitalization falls by about 0.4%. Oil near $100, high bond yields, and the return of expectations for U.S. rate hikes explain much of the movement.

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