Bitcoin, Hovering at $100,000 Amid U.S. Inflation Concerns [CryptoBriefing]

[Financial News] Bitcoin is hovering at $100,000 on the 1st due to concerns about inflation occurring in the United States.
According to the global virtual asset information platform CoinMarketCap, Bitcoin is trading at $108,000, down 1.02% compared to the previous day (24-hour basis) as of 10:15 a.m. on the 1st. Bitcoin has been trading at $100,000 for four consecutive days since it failed to hold the $110,000 level on the 29th of last month.
Bitcoin is trading at 150 million won in the won market. According to CryPrice, a global virtual asset market comparison platform, the Korean premium is -0.05%.
The virtual asset market appears to be in an adjustment phase after the announcement of the U.S. July Personal Consumption Expenditure (PCE) price index. The U.S. Department of Commerce announced on the 29th of last month (local time) that the July PCE price index rose 2.6% from a year ago, and the core PCE price index, excluding food and energy, rose 2.9%.
Although both indices met market expectations (consensus), concerns about rising inflation are growing, and expectations for a rate cut in September are disappearing, according to market reactions. In fact, $622.5 million (about 867.0678 billion won) was net outflow from Bitcoin spot exchange-traded funds (ETFs) last month.
At the same time, Ethereum is trading at $4,390, down 1.40% from the previous day. XRP (Ripple) is trading at $2.76, down 2.79%.

yimsh0214@fnnews.com Sanghyuk Lim Reporter