Bitcoin drops below $89K, wiping over $100B from the crypto market
Key Takeaways
- Bitcoin fell below $89,000, causing over $100 billion to be wiped from the crypto market.
- US PCE inflation data largely matched expectations and indicated stable underlying inflation pressures.
Over $100 billion was wiped from the crypto market in the past 24 hours as Bitcoin slipped below $89,000.
According to CoinGecko data , the total market capitalization decreased from approximately $3.2 trillion to $3.1 trillion over the same period. Bitcoin was trading near $89,400 at the time of press, down about 3% on the day.
The pullback followed the release of the latest US Personal Consumption Expenditures (PCE) report, which largely matched expectations.
Headline PCE rose 2.8% year over year, slightly above last month’s 2.7%, while the monthly figure held steady at 0.3%.
Core PCE, the Federal Reserve’s preferred inflation gauge, increased 2.8% year over year, just below both forecasts and the prior reading. On a monthly basis, core PCE remained stable at 0.2%, indicating persistent but contained underlying inflation pressures.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Aligning Universities with Emerging Industries: The Critical Need for STEM Investment
- Global industries demand AI, renewable energy, and biotech skills faster than traditional education systems can supply, creating a critical skills gap. - Universities like MIT and Stanford are embedding AI across STEM curricula while industry partnerships accelerate hands-on training in automation and biomanufacturing. - Renewable energy programs with apprenticeships and public-private funding are addressing talent shortages as $386B global investments outpace workforce readiness. - Biotech's fragmented
PENGU Token Value Soars: Blockchain Data and Institutional Interest Indicate Optimal Timing for Investment
- PENGU ranks #81 with $706.5M market cap, showing rising institutional interest and whale accumulation. - The pending Canary PENGU ETF, if approved, could unlock institutional capital by including NFTs in a U.S. ETF. - Mixed on-chain signals (RSI 38.7, OBV growth) and 2B tokens moved from team wallets highlight uncertainty. - Partnerships with Care Bears and Lufthansa, plus Bitso collaboration, expand utility but face regulatory risks. - Recent 8.55% price rebound and 2.6% gain post-BNB listing suggest ca
Evaluating How the COAI Token Scandal Influences Cryptocurrency Regulatory Policies
- COAI Token's 88% price crash and $116.8M loss exposed systemic risks in centralized AI-DeFi projects with opaque governance. - Global regulators responded with stricter frameworks, including EU's MiCA and Singapore's asset freezes, to address jurisdictional gaps. - Institutional investors now prioritize compliance, with 55% of hedge funds allocating to digital assets via tokenized structures in 2025. - Emerging solutions include AI-driven risk platforms and anthropological governance models to enhance tr
Higher-Timeframe Support Holds Strong—5 Altcoins Set for a Possible 30%–55% Surge Once 20-Day MA Breaks
Trending news
MoreCrypto prices
More
