As the probability of an interest rate cut within the year by the U.S. Federal Reserve (Fed) has decreased, cryptocurrencies (virtual assets) are falling across the board.
As of 8:11 a.m. on the 21st, on CoinMarketCap, a global coin market tracking site, Bitcoin was down 3.93% from 24 hours earlier at $87,357. Ethereum was down 5.08% and was in transaction at $2,862.
Binance Coin was down 2.47% at $875, and Ripple (XRP) was down 3.84% at $2.02, respectively.
This is because the possibility of a December rate cut by the Fed has also diminished as U.S. employment indicators beat expectations. The U.S. Department of Labor said on the 20th (local time) that U.S. nonfarm payrolls in September increased by 119,000 from the previous month. It was the largest increase in five months since April (an increase of 158,000).