The virtual assets that were plummeting from the day before are still maintaining a slight downward trend.
As of 8 a.m. on the 19th, Bitcoin is recorded at $116,515, down 1.35% from 24 hours ago, according to the global coin market tracking site CoinMarketCap. Ethereum is trading at $4,348, a decrease of 3.76%. Ripple, ranked third by market capitalization, is at $3.07, down 1.3%.
The virtual asset market fell across the board the previous day due to a surge in the U.S. Producer Price Index (PPI), which reduced the likelihood of a rate cut by the U.S. Federal Reserve in September, and increased geopolitical risks related to the Ukraine war. Consequently, virtual asset-related stocks such as stablecoin issuer Circle and Bitmain also recorded significant declines.