The prices of most major assets in the cryptocurrency market have declined over the past 24 hours, APA-Economics reports.
According to data from the CoinMarketCap platform, Bitcoin fell by 0.68% over the past 24 hours to $78,355.31.
Ethereum declined by 0.79% to $2,477.58, BNB fell by 3.77% to $722.83, while Bittensor dropped by 0.11% to $257.46.
At the same time, some cryptocurrencies recorded gains. Zcash rose by 3.05% to $1,247.67, while Monero increased by 2.27% to $514.81.
Gold-backed cryptocurrencies also recorded price increases. PAX Gold (PAXG) rose by 0.79% over the past 24 hours to $4,412.71, while Tether Gold (XAUT) increased by 0.71% to $4,408.
The CoinMarketCap 20 index declined by 0.95% over the past 24 hours to 161.87 points.
The cryptocurrency market is under pressure from oil prices remaining above $100 amid rising tensions in the Middle East, an increase in US Treasury yields, and uncertainty over the Federal Reserve's (FED) interest rate decision.
Market participants estimate the probability of the FED raising interest rates in September at around 60%. Investors' attention is focused on US inflation data, which could influence the interest rate decision.