Bitcoin Slips to Mid-$75,000s as Rate-Cut Hopes Fade and Mideast Risks Weigh

Aju Economy Coiners briefing (file photo) [Photo=Aju Economy DB]

Virtual asset prices, led by bitcoin, weakened broadly after a short-term rise, as investors turned cautious amid fading expectations for interest-rate cuts and ongoing geopolitical uncertainty.

According to CoinMarketCap, bitcoin was trading at $75,912 as of 8 a.m. on the 30th, down 0.39% from the previous day.

Ethereum fell 1.24% to $2,257. Binance Coin (BNB), Solana and XRP also slipped 0.82%, 0.71% and 0.65% to $617, $83 and $1.36, respectively.

Market watchers cited profit-taking as prices cooled from an overbought condition following the recent surge.

Macro factors also weighed on sentiment. With geopolitical risks such as tensions in the Middle East persisting, expectations for U.S. Federal Reserve rate cuts have weakened, dampening appetite for risk assets.

Analysts also said momentum has eased on the demand side, with U.S. buying interest softening and short-term selling pressure increasing.

In South Korea, bitcoin was trading at about 113.71 million won ($75,929) on the won-based exchange Bithumb as of 8 a.m., down 0.34% from the previous day. The so-called “kimchi premium” stood at 0.573%, indicating domestic prices were higher than overseas levels.

* This article has been translated by AI.

Lee Seongjin leesj@ajunews.com