According to Bithumb, South Korea's largest cryptocurrency exchange, on the 11th:
As of 9:55 a.m. on the same day, the price of Bitcoin was in the 78 million won (approximately 8.92 million yen) range, up 1.18% from the previous day.
Bitcoin has risen for three consecutive days since the 9th, showing a short-term upward trend.
It is analyzed that the August CPI of the United States, which will be announced on the same day, will affect the volatility of Bitcoin prices. Currently, experts believe that the headline CPI, which includes food and energy prices, is up 2.
In July, the headline CPI was up 2.9% year-on-year and 0.2% month-on-month, but it is expected to fall 0.3 percentage points year-on-year and remain at the same level month-on-month.
The Federal Reserve Board is also considering whether to make a big cut (0.5 percentage point cut) or a small cut (0.25 percentage point cut) in the second half of the year.
The CPI is expected to be a major turning point, with opinions divided on whether to cut the rate by 1.5 percentage points. If the CPI exceeds market expectations and it turns out that inflation is less contained than expected,
The Fed's interest rate cut schedule is likely to be pushed back, which could have a negative impact on the price of Bitcoin, one of the investment assets.
This could have a particularly large impact on the entire virtual asset market, which has recently been lacking in positive momentum.
The factors that led to short-term market gains over the past quarter, such as ETFs (exchange-traded funds), have already disappeared.
2024/09/11 11:15 KST
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