Bitcoin Falls Below $110,000 Due to Weakening Rate Cut Expectations [CryptoBriefing]

[Financial News] Bitcoin has fallen below the $110,000 mark due to weakening expectations of a U.S. interest rate cut in September.
According to the global virtual asset information platform CoinMarketCap, Bitcoin is trading at $108,000 as of 10 a.m. on the 26th, down 3.32% from the previous day (24-hour basis). It is the first time it has fallen below $110,000 since the 2nd.
Bitcoin is trading at 154 million won in the won market. According to the global virtual asset market comparison platform Cryprice, the Korean premium is 1.67%.
On the 22nd, Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), hinted at the possibility of a rate cut in September, bringing vitality to the virtual asset market, but as expectations were dashed, a strong adjustment is being seen.
Virtual asset analysis company CoinGlass data revealed that approximately $700 million worth of transactions were forcibly liquidated in virtual asset derivatives on this day.
At the same time, Ethereum is trading at $4,330, down 8.04% from the previous day. XRP (Ripple) is trading at $2.85, down 4.47% from the previous day.

yimsh0214@fnnews.com Sanghyuk Lim Reporter