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Bitcoin hovers around $96,000, defying the trend and rising against a weak US stock market
Source: DecenterKorea Original Title: Bitcoin in the high 96,000 USD range… Strengthening amid poor US stock market performance [Decenter Market Overview] Original Link: https://www.decenter.kr/NewsView/2K7B8JPQ93/GZ03
Bitcoin hovers in the late 96,000 USD range. Against the backdrop of poor performance in the US stock market, it has become a safe-haven asset alongside gold and silver.
According to data from global cryptocurrency market websites, at 8:00 AM on January 15, BTC increased by 1.28% compared to the previous day, trading at $96,864.29. Ethereum(ETH) rose by 0.62%, trading at $3,350.19. BNB fell by 0.10%, trading at $944.84, reclaiming the fourth market cap position. Ripple(XRP) declined by 1.71%, trading at $2.172.
The domestic market trend is similar. A certain exchange’s BTC increased by 0.58% compared to the previous day, trading at 141.99 million Korean Won. ETH rose by 0.12%, trading at 4.908 million Korean Won; XRP fell by 0.85%, trading at 3,133 Korean Won.
Bitcoin’s strong performance appears in the context of growing political divergence between the US President and the Federal Reserve Chair. News of the start of a criminal investigation into the Fed Chair has raised concerns about the independence of the Federal Reserve, expanding investor alertness.
Performance across different asset classes is diverging. A certain fund tracking the Nasdaq 100 index fell more than 1%, with the Nasdaq index down 1% compared to the previous day. In contrast, the precious metals market remains strong. Gold is trading around $4,600 per ounce, and silver hovers above $91.
Market analysts point out, “The perception that the independence of the Federal Reserve may be threatened is weakening investor sentiment.”
The Fear & Greed Index from a cryptocurrency data analysis company rose 22 points from the previous day to 48, indicating a “neutral” state. The closer this index is to 0, the more depressed investor psychology is; the closer to 100, the more overheated the market.