The price of Bitcoin has fallen on Tuesday after failing to sustain its position above $79,000 for the third time in eight sessions, establishing this level as a key benchmark. On Tuesday morning, Bitcoin traded at $76,923, representing a 2.4% decline over the past 24 hours, following a climb to $79,399 on Monday. Other major cryptocurrencies, including Ether, XRP, Solana, and BNB, have also experienced significant declines.
The rise in oil prices, with Brent crude reaching a three-week high, has contributed to the downturn in the cryptocurrency market. Despite this, corporate accumulation of Bitcoin continues, with companies like Strategy and Metaplanet investing heavily in the cryptocurrency.
The Federal Reserve's policy decision and major tech earnings reports are expected to be key catalysts for the market in the coming days.