Bitcoin drops below $89K, wiping over $100B from the crypto market
Crypto Briefing
Bitcoin fell below $89,000, resulting in a $100 billion loss across the crypto market following US inflation data.Summary
The cryptocurrency market experienced a significant downturn, losing over $100 billion in the last 24 hours as Bitcoin dropped below the $89,000 mark. This decline brought the total crypto market capitalization down from roughly $3.2 trillion to $3.1 trillion. The pullback occurred after the release of the latest US Personal Consumption Expenditures (PCE) report, which showed headline PCE rising 2.8% year-over-year and core PCE increasing 2.8% year-over-year, aligning closely with expectations and suggesting stable underlying inflation pressures.
(Source：Crypto Briefing)