The three major indices on the New York Stock Exchange fall... Bitcoin falls to $118,800 [Decenter Market Report]

As the three major stock indices on Wall Street closed lower, major cryptocurrencies are also declining.

According to CoinMarketCap, a global cryptocurrency market tracking site, as of 8 AM on the 12th, Bitcoin (BTC) is trading at $118,875.32, down 0.11% from the previous day. At the same time, Ethereum (ETH), the leading altcoin, recorded a 0.67% drop at $4,218.74. XRP is trading at $3.138, down 1.15%, and Solana (SOL) is down 4.43% at $174.68.



The domestic market is also declining. At the same time, BTC on Bithumb was recorded at 164.4 million won, down 0.59% from the previous day. ETH is down 0.88% at 5,829,000 won, XRP is down 1.43% at 4,334 won, and SOL is down 1.79% at 241,600 won.

As the New York Stock Exchange closed lower ahead of the July Consumer Price Index (CPI) announcement, major cryptocurrencies also declined in tandem.

On the 11th (local time), the Dow Jones Industrial Average closed at 43,975.09, down 200.52 points (0.45%) from the previous session. The S&P 500 index fell 16.00 points (0.25%) to 6,373.45, and the Nasdaq Composite dropped 64.62 points (0.30%) to 21,385.40.

The market maintained a wait-and-see attitude while watching the July CPI to be announced on the 12th. The core CPI inflation rate, excluding volatile food and energy, is expected to rise to 0.3% month-on-month and 3% year-on-year, higher than in June. This figure is the last inflation indicator to gauge the Federal Reserve's monetary policy direction at the Jackson Hole meeting on the 21st-23rd.

The Fear and Greed Index from cryptocurrency data analysis firm Alternative.me rose 1 point from the previous day to 70 points, indicating a state of "greed". This index means that the closer it is to 0, the more contracted the investment sentiment, and the closer to 100, the more overheated the market.

Reporter Do Ye-ri