Bitcoin Fell to $79,250 Monday as December Fed Hike Odds Rose to 72%

Bitcoin (BTC) fell to $79,250 Monday, its lowest price since July, as traders watched a support range near $77,000 to $77,765 and rising odds of a December Federal Reserve rate increase. The $77,000 to $77,765 band is a support zone, or price range traders watch for signs of whether buyers are stepping in as prices fall. Its position below Bitcoin’s reported price gives market participants a concrete level to monitor after Monday’s decline. The probability of a Fed rate hike in December stood at 72%, and the odds had risen.