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Bitcoin Falls to the $81,000 Level... Ethereum, Ripple, and Solana All Weak as Markets Nervous Ahead of September PPI Release

The virtual asset market is showing a broad decline. Bitcoin has slipped to the $81,000 level, while major altcoins such as Ethereum, Ripple (XRP), and Solana are also weakening. Market attention is focused on the U.S. September Producer Price Index (PPI), scheduled for release tonight. ◆ Major Coi

Oseong Kwon
Staff Reporter
5 min read
Bitcoin Falls to the $81,000 Level... Ethereum, Ripple, and Solana All Weak as Markets Nervous Ahead of September PPI Release
CBC News

The virtual asset market is showing a broad decline. Bitcoin has slipped to the $81,000 level, while major altcoins such as Ethereum, Ripple (XRP), and Solana are also weakening. Market attention is focused on the U.S. September Producer Price Index (PPI), scheduled for release tonight.

◆ Major Coins Fall Across the Board... Zcash Plunges More Than 11%

As of 11:40 a.m. on the 15th, Bitcoin was trading at $81,011.88 according to CoinMarketCap. It is down 2.69% from 24 hours earlier and has fallen 0.79% in the past hour.

Ethereum, the second-largest cryptocurrency by market capitalization, was at $2,366.26, down 5.45% from 24 hours earlier. It also dropped 2.07% in the past hour, continuing its weak trend.

Ripple (XRP) is trading at $1.31, down 4.09% from 24 hours ago and down 1.19% in the past hour.

In addition, Binance Coin (BNB) fell 3.18% from 24 hours earlier to $719.10, Solana dropped 4.06% to $102.91, and Hyperliquid (HYPE) fell 3.34% to $79.42. Dogecoin also declined 5.48% from 24 hours ago to $0.07983.

In particular, Zcash (ZEC) recorded $1,119.05, plunging 11.21% from 24 hours earlier and showing a relatively large decline among major virtual assets.

Tron (TRX) was the only gainer, rising 0.04% from 24 hours earlier to $0.3303 and showing slight strength, though it fell 0.37% in the past hour. Overall, most major virtual assets declined, drawing attention to short-term market volatility.

◆ After CPI 'Shockwave,' Attention Turns to PPI... Uncertainty Grows Over Fed Rate Policy

Meanwhile, market eyes are turning to the U.S. September PPI, set to be released at 9:30 p.m. Korea time. With the Consumer Price Index (CPI) released the previous day coming in higher than expected, sending shockwaves through U.S. stock markets and the virtual asset market, attention is also concentrated on the outcome of this PPI report.

According to the U.S. Bureau of Labor Statistics, September CPI rose 3.7% year over year. Core CPI, excluding food and energy, increased 2.6% from a year earlier.

As inflationary pressure comes back into focus, uncertainty is growing over the U.S. Federal Reserve's (Fed) future interest rate policy. In fact, major indices fell on the New York Stock Exchange the previous day, showing sensitivity to inflation indicators.

Against this backdrop, if inflationary pressure is confirmed in the PPI as well, wariness in financial markets is likely to persist. Conversely, if signals emerge that price pressures are easing, investor sentiment could also shift, making it necessary to watch the release results and subsequent movements in the virtual asset market.

[※ This article is intended to convey market trends and is not intended to recommend investment in any specific asset.]

Oseong Kwon
Staff Reporter

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