Summary
- Reported that inflation concerns have resurfaced and the virtual assets market is broadly weaker.
- Stated that major cryptocurrencies such as Bitcoin, Ethereum, and XRP all recorded declines in the 2% range.
- Said that the US July PCE price index met market expectations but hit the highest level since February, leading to weakness in risk assets.
Inflation concerns have resurfaced, and the virtual assets (cryptocurrencies) market is broadly weaker.
As of 15:22 on the 30th, according to global market tracking site CoinMarketCap, Bitcoin (BTC) is trading at 108,300 dollars, down 2.40% from the previous day. Ethereum (ETH), ranked second by market cap, is also down 2.40% at 4,390 dollars.
Meanwhile, XRP (ranked fourth by market cap) is down 2.34% at 2.82 dollars, moving within a range of 2.89 dollars at the intraday high and 2.81 dollars at the intraday low.
Market analysts say that although the US July personal consumption expenditures (PCE) price index released the previous day met market expectations, it recorded the highest level since February, which has renewed inflation concerns and led to weakness across risk assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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