Bitcoin Plunges to $108,000 Amid Concerns Over U.S.-China Summit and Falling Gold Price [Crypto Briefing]

[Financial News] On the 22nd, Bitcoin (BTC) dropped to around $108,000, influenced by growing concerns over the failure of the U.S.-China summit and a sharp decline in the gold price.
According to CoinMarketCap, as of 10:10 a.m., BTC was trading at around $108,000, down 1.85% over the past 24 hours. BTC had maintained the $110,000 level the previous day, but slipped below $110,000 starting today.
In the Korean won market, BTC is trading at approximately 163 million won. According to the global asset comparison platform Cryprice, the Korea premium stands at 5.62%.
On the 21st (local time), U.S. President Donald Trump stated at a luncheon at The White House, "I hope to reach a fair agreement with Chinese President Xi Jinping," but also noted, "There is a possibility that the summit may not take place."
Global markets, including digital assets, are closely watching the developments in the U.S.-China trade conflict. With President Trump suggesting the summit might not happen, markets have become volatile. The Nasdaq Stock Market (Nasdaq) closed at 22,953.67, down 36.88 points (0.16%).
Some analysts believe that the decline in the gold price has also affected the digital asset market. As of 1:45 p.m. Eastern Time on the 21st, the Gold Spot Price stood at $4,115.26 per ounce, down 5.5% from the previous session. The international gold price had been rallying, rising nearly 60% since the beginning of the year.
Investors are now focusing on the upcoming release of the U.S. Consumer Price Index (CPI) for September, scheduled for the 24th. If inflation concerns remain subdued, further interest rate cuts are expected, which could drive investment into markets such as gold or digital assets instead of the dollar.
At the same time, Ethereum was trading at around $3,853, down 2.74% from the previous day. XRP was trading at approximately $2.41, a decrease of 2.46%.

yimsh0214@fnnews.com Im Sang-hyuk Reporter