[Bitcoin Now] US September CPI Caution... Google Good News Also Swallowed

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The price of the leading cryptocurrency Bitcoin is hovering in the $19,000 range.

According to the global cryptocurrency market tracking site CoinMarketCap, as of 11:47 a.m. on the 12th, the price of Bitcoin was recorded at $19,053 (approximately 27.33 million KRW), up 0.05% from the previous day.

Bitcoin prices are showing a wait-and-see stance ahead of the U.S. September Consumer Price Index (CPI) announcement scheduled for the 13th. Cryptocurrency specialized media CoinDesk explained, "As investors remain cautious about recent inflation signals, Bitcoin prices have maintained their recent pattern." Experts expect the U.S. September CPI to have risen 8.1% compared to the same period last year, a slowdown from August's 8.3%. However, since the level remains high, it is difficult to expect a shift in the Federal Reserve's tightening stance.

The U.S. stock market, which shows synchronization, recorded mixed results. On the 11th (local time), the Dow Jones Industrial Average rose 36.31 points (0.12%) to close at 29,239.19, the large-cap-focused S&P 500 fell 23.55 points (0.65%) to 3,588.84, and the tech-heavy Nasdaq dropped 115.91 points (1.10%) to 10,426.19.

Despite positive news, Bitcoin prices did not react significantly. Google will introduce a system from next year allowing some cryptocurrencies, including Bitcoin, to be used for cloud service payment fees. Google is the first among cloud service operators to accept cryptocurrency as a payment method and plans to cooperate with Coinbase to build the system.

Meanwhile, according to cryptocurrency data provider Alternative, the Fear & Greed Index, which indicates investor sentiment, dropped 4 points from the previous day to 20 points (extreme fear). Alternative's Fear & Greed Index means that the closer to 0 points, the more investors feel extreme fear and pessimism about investing, while the closer to 100 points, the more optimistic they are.

This content was produced with the assistance of AI translation services.