Bitcoin Falls to $116,000 Amid US Inflation Concerns [Crypto Briefing]

[Financial News] Bitcoin fell to $116,000 on the 19th due to concerns over US inflation.
According to the global virtual asset information platform CoinMarketCap, Bitcoin is trading at $116,000 as of 10:10 AM today, down 0.65% from the previous day (24-hour basis). Bitcoin has been on a downward trend, falling to $114,000 on the 18th after hitting a new high of $124,000 on the 14th.
Bitcoin is trading at 160 million won in the won market. According to the global virtual asset market comparison platform CryPrice, the Korean premium is 0.21%.
On the 14th (local time), the US Department of Labor announced that the US Producer Price Index (PPI) for July rose 0.9% from the previous month, far exceeding the market forecast of 0.2%. With the July inflation rate coming in higher than expected, the possibility of a rate cut by the Federal Reserve (Fed) in September has diminished.
As expectations for a rate cut disappear and concerns about a slowdown in the US economy grow, altcoins excluding Bitcoin are also being adjusted. At the same time, Ethereum is trading at $4,342, down 2.26% from the previous day. XRP (Ripple) is trading at $3.07, down 0.22% from the previous day.

yimsh0214@fnnews.com Sanghyuk Lim Reporter