Bitcoin Rises to $93,000 on Hopes of Interest Rate Cuts [Crypto Briefing]

[Financial News] On the 4th, Bitcoin (BTC) climbed to the $93,000 level, buoyed by expectations of a Federal Reserve System (Fed) interest rate cut.
According to CoinMarketCap, as of 10 a.m. on this day, BTC was trading at around $93,000, up 1.73% over the past 24 hours. Over the past week, BTC has risen by 2.85%.
In the Korean won market, BTC is trading at approximately 138 million won. According to Cryprice, which compares global digital asset markets, the Korean premium stands at 1.20%.
The market is increasingly expecting the Fed to cut its benchmark interest rate in December, following weaker-than-expected U.S. employment data. According to the ADP National Employment Report, private sector employment in November decreased by 32,000 compared to the previous month, contrary to market expectations of a 10,000 increase. Previously, the Fed emphasized that employment would be a key focus in its rate-cutting cycle, which resumed last September.
As a result, all three major U.S. stock indexes closed higher. The Dow Jones Industrial Average (DJIA) rose 408.44 points (0.86%) to 47,882.90. The S&P 500 Index (S&P 500) gained 20.35 points (0.30%) to close at 6,849.72. The NASDAQ Composite Index (NASDAQ) also finished up 40.42 points (0.17%) at 23,454.09.
Institutional funds are also showing net inflows. According to CoinMarketCap, institutions have recorded net inflows into Bitcoin spot Exchange-Traded Funds (ETF) for seven consecutive trading days (from November 25 to December 3).
At the same time, Ethereum was trading at around $3,201, up 6.57% from the previous day. Ripple was up 2.05% at approximately $2.19.

yimsh0214@fnnews.com Im Sang-hyuk Reporter