Bitcoin, which has fallen to around $100,000 after about two months, is struggling to rise again. In contrast, Ethereum, which also experienced a decrease during the same period, has shown a 2% increase.
According to CoinMarketCap, a global cryptocurrency market tracking site, as of 8 a.m. on the 18th, the price of Bitcoin was recorded at $108,901. This represents a 4% increase from a week ago and a rise of 0.08% from 24 hours prior. It is the first time since July 9 that the price of Bitcoin has reached the $100,000 level.
At a similar time, Ethereum was trading at $4,434. Although this is a 7.36% decrease from a week ago, it is a 1.51% increase compared to 24 hours prior. Additionally, XRP recorded $2.79, BNB was at $862.5, and Solana reached $203.77, indicating that altcoins are also in a downward trend.
The reason the coin market is struggling is attributed to the impact of the July Personal Consumption Expenditures (PCE) Price Index. The July PCE Price Index increased by 2.6% compared to a year ago, while the core PCE Price Index, excluding food and energy, rose by 2.9%. Although this level aligns with market expectations, concerns over rising inflation have further diminished the likelihood of an interest rate cut in September.