Bitcoin falls 8.3% as rate-hike expectations pressure crypto markets

  • Bitcoin fell 8.3% this week amid pressure from rate-hike expectations and higher bond yields.
  • Cardano, XRP, Chainlink and Dogecoin each gained more than 10%.
  • Bitcoin traded just above $84,000 as altcoins outperformed the largest cryptocurrency.

Bitcoin fell 8.3% this week to just above $84,000 as expectations of multiple Federal Reserve rate hikes and rising bond yields weighed on the market. The decline contrasted with gains of more than 10% for Cardano, XRP, Chainlink and Dogecoin, a divergence described as signaling a rotation within crypto markets.

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