Summary
- Bitcoin (BTC) temporarily recovered to the $119,000 level.
- The rise in the United States' July Producer Price Index (PPI) reignited concerns about inflation.
- Bitcoin’s Kimchi Premium recorded -0.33%, indicating that domestic exchange prices are slightly lower than global market prices.
Bitcoin (BTC) has briefly recovered to the $119,000 level.
As of 11:40 PM on the 14th, BTC is trading at $119,066 on the Binance USDT market, down 2.04% from the previous day (₩165,140,000 on Upbit standard).
Earlier today, the United States released the Producer Price Index (PPI) for July, which rose by 0.90% month-on-month, reigniting concerns about inflation. Bitcoin temporarily gave up the $120,000 level following this announcement.
Meanwhile, according to the cryptocurrency data platform Cryprice, Bitcoin’s Kimchi Premium stood at -0.33% today. This indicates that Bitcoin is being traded at a slightly lower price on domestic exchanges compared to the global market.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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