Bitcoin is consolidating around the $110,000 level.
As of 7:50 a.m. on the 28th, according to global virtual asset market site CoinMarketCap, Bitcoin is trading at $111,544, down 0.12% from the previous day. This is a price that has declined by 2.65% compared to a week ago.
At the same time, Ethereum is trading at $4,529, down 1.25% from the previous day. Ripple is recorded at $2.98, down 0.61%.
On the 22nd, Jerome Powell, chairman of the U.S. Federal Reserve (Fed), indicated the possibility of easing monetary policy in September, which initially pleased the virtual asset market; however, expectations for an interest rate cut weakened and prices reversed downward. But after it was reported on the 26th that President Donald Trump had notified Lisa Cook, a Fed director, of her dismissal, expectations for an interest rate cut rose again, and prices of Bitcoin and others also increased again. Director Cook is considered a cautious hawk regarding interest rate cuts.
Bloomberg reported, "There are downside risks in the labor market, but questions remain about the pace of interest rate cuts," and added, "Amid differing opinions within the Fed, investors are tense ahead of an upcoming inflation indicator that could be somewhat unfavorable."