Fed rate meeting and AI trade concerns boost safe-haven sentiment; Bitcoin falls below $80,000.

Zhitong Finance APP has learned that on Monday, as overall risk aversion heated up in the market ahead of the Federal Reserve policy meeting and investors' concerns about the artificial intelligence (AI) trade continued to intensify, the cryptocurrency market was dragged down, with Bitcoin falling back below $80,000. The world's largest digital asset by market capitalization fell as much as 1.4% to below $79,300, before paring some losses and hovering near $80,000 during Asian afternoon trading. Smaller tokens, including Ethereum, XRP, and Solana, also fell.