The post Bitcoin drops below $89K, wiping over $100B from the crypto market appeared on BitcoinEthereumNews.com. 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. Source: https://cryptobriefing.com/bitcoin-market-drop-crypto-loss/The post Bitcoin drops below $89K, wiping over $100B from the crypto market appeared on BitcoinEthereumNews.com. 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. Source: https://cryptobriefing.com/bitcoin-market-drop-crypto-loss/