Bitcoin Falls Below $85,000 Mark
Ethereum, XRP (Ripple), and Others Decline Across the Board
The leading cryptocurrency, Bitcoin, has fallen below the $85,000 mark. This comes as indicators show that inflation caused by the tariff war initiated by Trump is slowing down consumer spending.
According to the U.S. cryptocurrency exchange Coinbase, at 11:28 a.m. Eastern Time on the 28th (local time), the price of one Bitcoin was recorded at $84,168. This is a drop below the $85,000 level from the previous day's trading price in the $87,000 range.
At the same time, Ethereum and XRP (Ripple), ranked second and third in market capitalization, traded down by 7.11% and 7.53%, respectively, while Solana and Dogecoin fell by 6.94% and 7%.
The weakness in cryptocurrencies is interpreted as a result of increased inflationary pressures since last month. The U.S. Department of Commerce announced on the 28th that the Personal Consumption Expenditures (PCE) price index for last month rose 2.5% compared to the same period last year. The core index, excluding energy and food, increased by 2.8%, exceeding forecasts.
Projections that U.S. President Donald Trump's tariff policies would drive up prices are becoming a reality. The cryptocurrency market is heavily influenced by benchmark interest rates, and rising inflation could negatively impact the monetary policy stance of two interest rate cuts within the year.
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