Bitcoin slips below $79,000 as XRP leads losses and Fed hike bets rise

Bitcoin eased almost 1% to just below $79,000 during Asian morning hours on Thursday. Bitcoin had briefly traded above $80,000 for the first time since May. XRP fell almost 3% to just above $1.41. XRP still held a 28% weekly gain, the largest among major cryptocurrencies. Hyperliquid's HYPE slipped more than 1% to just below $81. Tron fell less than 1% to just above 33 cents. Solana rose almost 4% to just above $101. Solana gained 19% during the week. Ether added 1% to just below $2,494. BNB gained almost 1% to just below $703. Dogecoin remained just below 9 cents. Bitcoin's seven-day gain narrowed to 14% from 23% one day earlier. Ether's seven-day gain narrowed to 11% from 29%. Shorter-dated Treasuries fell overnight as traders increased bets on a rate increase. The move reduced support from the lower-yield backdrop that lifted bitcoin from below $68,000 last week. Federal Reserve Chair Kevin Warsh is scheduled to deliver his first Jackson Hole keynote as chair on Friday. The keynote comes three weeks before the September 15-16 rate decision. Analysts said a break above Bitcoin's May high near $82,820 could open a path toward $100,000. Analysts said falling open interest suggests short covering rather than broad new buying.