Bitcoin Falls Below $84,000

Forecast Trend Report by Period

Bitcoin fell below $84,000 on Sept. 24 as concerns over additional U.S. rate hikes and a wave of forced liquidations weighed on the market.

As of 11:08 a.m. Korea time on Sept. 24, Bitcoin was trading at $83,793.62 on Binance's USDT market, down 2.84% from a day earlier. On Upbit's won market, it was trading at 115,223,000 won, down 0.61% from the previous day.

Major altcoins also declined. Ether was trading at $2,666.05 on Binance's USDT market, down 3.09% from a day earlier. XRP fell 5.98% to $1.48, while Solana dropped 3.34% to $114.11.

The decline came after stronger-than-expected U.S. economic data fueled concerns about further rate hikes. S&P Global said on Sept. 23 that its preliminary U.S. composite purchasing managers' index for September rose to 58.4, the highest level in more than five years. The services PMI came in at 58.7 and the manufacturing PMI at 57, both above market expectations.