Bitcoin Reclaims $59,000 on Easing Inflation Expectations [Crypto Briefing]

[Financial News] Bitcoin rose back to the $59,000 level on the 2nd as expectations grew that inflation would ease.
According to CoinMarketCap, Bitcoin was trading at around $59,000 as of 10:15 a.m. that day, up 3.01% from 24 hours earlier. Over the past week, Bitcoin has fallen 1.34%.
In the Korean won market, Bitcoin is trading at around 90 million won. Based on Cryprice, the Korea premium stood at -2.45%.
The move appears to have been influenced by remarks from Kevin Warsh, the new chair of the Federal Reserve System, which eased concerns about inflation. Speaking at a central bank forum hosted by the European Central Bank (ECB) in Sintra, Portugal, on the 1st local time, Warsh said, "Inflation expectations have fallen over the past four weeks, and inflation risks have also declined."
The Crypto Fear and Greed Index, provided by CoinMarketCap, stood at 19 on the day, indicating "extreme fear." The index ranges from 0 to 100, with values closer to 0 interpreted as "extreme fear" and those closer to 100 as "extreme greed."
At the same time, Ethereum was trading at around $1,609, up 2.97% from the previous day. Ripple (XRP) was trading at around $1.04, up 2.07%.
yimsh0214@fnnews.com Lim Sang-hyeok Reporter