Bitcoin (BTC) price has broken through the $90,000 mark for the first time in 46 days. This is happening amid fluctuations in the New York stock market due to U.S. tariff policies, showing a clear upward trend. It is decoupling from U.S. tech stocks and showing a flow similar to gold, highlighting its presence as a 'digital gold'.
According to global cryptocurrency market site CoinMarketCap on the 23rd, BTC was up 6.56% from the previous day at $92,860.08 as of 8 AM. This is the first time Bitcoin has risen to the $90,000 range since last month's 6th. Market capitalization second-place Ethereum (ETH) rose 10.71% to $1,746.84, and XRP increased 6.50% to $2.20.
In the domestic market, cryptocurrency prices are also rising across the board. Based on Bithumb, BTC rose 2.24% to 133,042,000 won. ETH increased 4.34% to 2,503,000 won, and XRP rose 2.76% to 3,166 won.
Bitcoin's price recently fluctuated with the U.S. stock market due to the tariff war initiated by President Donald Trump. It dropped to the $74,000 range on the 7th but has steadily risen to the $90,000 range. Especially as economic uncertainty grew with Trump's increased pressure on Federal Reserve Chair Jerome Powell to lower interest rates, Bitcoin's price increase became steeper.
The market analysis suggests that Bitcoin is moving away from its tendency to move with U.S. tech stocks and showing a flow similar to gold in uncertain conditions. Bloomberg reported, "After risk assets declined following Trump's announcement of large-scale tariff plans, Bitcoin began to show a flow similar to gold, a standout asset in uncertain markets."
According to cryptocurrency data company Alternative.me, the Crypto Fear & Greed Index rose 8 points to 47 points, transitioning to a 'neutral' state. This index indicates that the closer to 0, the more constrained the investment sentiment, while closer to 100 indicates market overheating.
- Reporter Shin Jung-seop
- jseop@sedaily.com
< Copyright ⓒ Decenter, unauthorized reproduction and redistribution prohibited >
