Bitcoin dropped 1.4% to $79,807, breaking the $80,000 support level on 14 May 2026.
The decline was driven by heightened concerns over higher U.S. interest rates after stronger April consumer and producer inflation data.
The Senate Banking Committee will hold a markup hearing on the Clarity Act Thursday, focusing on a ban on passive stable‑coin interest.
Altcoins fell alongside Bitcoin, with Ether down 1.6% to $2,265.84 and XRP down 2% to $1.4327.