Bitcoin traded just below $78,800 on Tuesday, declining more than 1% on the session while maintaining a modest weekly gain, according to CoinDesk data. The largest cryptocurrency has now spent two weeks unable to secure a daily close above the $80,000 level without relinquishing the August rally that initially propelled it there.
Altcoin Performance Mixed as Weekly Gains Erased
Zcash (ZEC) suffered the steepest decline among major assets, sliding nearly 5% to approximately $1,125. Despite the pullback, ZEC remains up 33% over the past seven days, marking the strongest weekly performance among large-cap tokens.
Hyperliquid’s HYPE token dropped more than 3% to around $84, while Solana (SOL) fell over 2% to just above $103. Both assets surrendered their entire weekly advances in Tuesday’s session.
Ether (ETH) dipped 1% to just under $2,482, and XRP eased to $1.39. Tron (TRX) traded nearly flat at roughly 33 cents.
Dogecoin (DOGE) and BNB demonstrated relative resilience, each declining only a fraction of a percent while preserving the strongest seven-day gains outside of Zcash — up nearly 9% and more than 7%, respectively.
Rising Treasury Yields Pressure Risk Assets
Macroeconomic headwinds continue to weigh on digital assets. The 10-year U.S. Treasury yield held near 4.8% following August nonfarm payrolls data that showed 162,000 jobs added — significantly exceeding forecasts near 53,000.
Traders now price approximately a 60% probability that the Federal Reserve will raise interest rates by a quarter percentage point at next week’s meeting, an outcome that was considered highly unlikely as recently as spring.
