Bitcoin Remains in the Red as Global Crypto Market Retreats
Tehran – BORNA – Bitcoin and Ethereum continued their downward trajectory on Saturday, extending losses from the past week as investors reacted to new U.S. inflation data and broader risk-off sentiment in global markets.
According to the U.S. Bureau of Economic Analysis (BEA), the Personal Consumption Expenditures (PCE) index rose 0.5% in July. On a monthly basis, PCE climbed 0.2%, while the annual figure showed a 2.6% increase, in line with expectations. The data fueled concerns that the Federal Reserve may keep interest rates elevated for longer, pressuring risk assets, including cryptocurrencies.
Data from CoinMarketCap showed that Bitcoin was trading at $108,292.43 at the time of publication, down 2.44% over the past 24…
