Bitcoin Hovers at $100,000 Level Ahead of US Employment Data [CryptoBriefing]

[Financial News] Bitcoin is hovering at the $100,000 level on the 2nd. Investors are taking a wait-and-see approach ahead of the US employment data release this week.
According to the global virtual asset information platform CoinMarketCap, Bitcoin is trading at $109,000 as of 10 a.m. on the 2nd, up 0.71% from the previous day (24-hour basis). Bitcoin has been trading at the $100,000 level for five consecutive days since it fell from the $110,000 level on the 29th of last month.
Bitcoin is trading at 152 million won in the won market. According to the global virtual asset market comparison platform Cryprice, the Korean premium is 0.02%.
The virtual asset market is focusing on the US employment data scheduled for the 5th (local time). This is because the employment data is the most important variable in the September interest rate cut decision. As recent employment data has continuously deteriorated, there is an analysis that if weak figures come out again this time, the possibility of an interest rate cut may increase further.
Meanwhile, the so-called 'whales' who hold large amounts of Bitcoin have increasingly converted Bitcoin to Ethereum, which has also affected Bitcoin's weakness. According to the decentralized exchange Hyperliquid, a whale investor who has held Bitcoin for more than five years converted $4 billion (about 5.8 trillion won) worth of Bitcoin to Ethereum through the exchange on the 21st of last month.
At the same time, Ethereum is trading at $4,302, down 2.14% from the previous day. XRP (Ripple) is trading at $2.75, down 0.28%.

yimsh0214@fnnews.com Sanghyuk Lim Reporter