Bitcoin is holding steady around $78,500. The rally has cooled amid the possibility of additional U.S. rate hikes and weak stock markets.
As of 8:30 a.m. on the 1st, on CoinMarketCap, a global digital asset tracking site, Bitcoin was at $78,555, up 0.91% from 24 hours earlier.
Bitcoin surged more than 24% last week and briefly topped $80,000, but its rise has slowed this week. The slowdown is attributed to a combination of rising international oil prices, stock market weakness, and hawkish remarks by Federal Reserve Chair Kevin Warsh that have increased the chances of a rate hike in September.
At the same time, No. 2 by market cap, Ether, was trading up 0.91% at $2,466. Binance Coin was up 1.34% at $690, Ripple was up 1.16% at $1.37, and Solana was up 1.25% at $103.