[비트코인 지금]U.S. interest rate hikes continue… A drop of $35,000

[아시아경제 이정윤 기자] The price of Bitcoin, the leading cryptocurrency, fell for the second day after the US Federal Reserve raised its benchmark interest rate.

According to CoinMarketCap, a global cryptocurrency market relay site on the 7th, as of 12:34 p.m. on the same day, the price of Bitcoin was 35,850 (about 45.55 million won), down 1.3% from the previous day.

Bitcoin price fell as the US stock market fell for the second day in a row as the Fed raised its benchmark interest rate. On the 6th (local time), the US Nasdaq index, centered on technology stocks, closed at 12,144.66, down 173.03 points (-1.40%). The Dow fell 98.60 points (-0.30%) to 32,899.37, and the S&P 500 closed at 4123.34, down 23.53 points (-0.57%) from the previous trading day. Earlier on the 4th of this month, the Fed raised the benchmark interest rate by 0.5 percentage points, as expected by the market.

CoinDesk, a media outlet specializing in cryptocurrencies, explained, “The long-term uptrend of (Bitcoin price) has weakened, suggesting that this year’s price increase will be limited.” According to Bloomberg News, Bitcoin price is in sync with tech stocks, but when the key interest rate is raised to catch inflation, the risk aversion sentiment has put pressure on it.

Investor sentiment is also weakening. The digital asset fear and greed index of Dunamu, which operates Upbit, a domestic cryptocurrency exchange, recorded a “neutral” level of 41.15 on the same day. Compared to 44.60 (neutral) on the 30th of last month, a week ago, it decreased by 3.45. Dunamu’s digital asset fear and greed index is ‘very fear (0-20)’, ‘fear (20-40)’, ‘neutral (40-60)’, ‘greed (60-80)’, ‘very greedy’ (80-100)’ is divided into stages. Greedy direction means that market participants’ interest in buying has increased. Conversely, in the fear direction, they escape from the market due to fear of asset decline, resulting in a chain of price declines.

By Lee Jung-yoon, staff reporter leejuyoo@asiae.co.kr