Bitcoin Weakens to $115,000 Due to Interest Rate Freeze Impact [Crypto Briefing]

[Financial News] Bitcoin is showing weakness at the $115,000 level on the 1st. It is interpreted as the impact of the recent U.S. Federal Reserve (Fed) putting an end to expectations of a rate cut in September.
According to CoinMarketCap, a global virtual asset information platform, Bitcoin is trading at $115,000, down 2.57% from the previous day (24-hour basis) as of 10:50 a.m. today.
Bitcoin is trading at 160 million won in the won market. According to Cryprice, a global virtual asset market comparison platform, the Korean premium is -0.54%.
Bitcoin showed a downward trend due to the Fed's decision on the 30th of last month (local time) to freeze the federal funds (FF) rate target at 4.25~4.50% and continue hawkish (preference for monetary tightening) remarks. Subsequently, on the 31st of last month, it rose to the $118,000 level due to investor sentiment for bottom fishing but fell again today.
Meanwhile, Paul Atkins, a commissioner of the U.S. Securities and Exchange Commission (SEC), indicated on the 31st of last month (local time) that "most virtual assets are not securities" and suggested reducing regulations related to virtual assets. This contrasts with the Biden administration's SEC setting the formula that "most virtual assets (except Bitcoin) are securities."
Despite the SEC's remarks, Bitcoin and other virtual assets are struggling to gain strength. At the same time, Ethereum is trading down 4.18% at $3,679. XRP (Ripple) is trading down 4.67% at $2.98.




yimsh0214@fnnews.com Sanghyuk Lim Reporter