After the halving on the morning of the 20th, the price settled at $65,000… price volatility is weak.
U.S. financial sector 13F disclosure in the middle of next month…attention on Bitcoin spot ETF investment
CoinMarketCap, a global virtual asset information platform, is announcing the completion of the Bitcoin halving at around 9 a.m. on the 20th (Korean time). CoinMarketCap screen capture
[파이낸셜뉴스] As the halving period, in which Bitcoin mining volume (supply) decreases, has come to an end, market attention is expected to shift to Wall Street in the United States. If the Bitcoin spot exchange-traded fund (ETF) is included in the holdings (13F) for the first and fourth quarters of this year that financial institutions such as U.S. asset management companies will disclose before mid-May, it will act as a positive factor in virtual asset investment sentiment. It’s analysis.
According to CoinMarketCap, a global virtual asset information platform, on the 21st, Bitcoin is trading at $65,000 as of 4 PM on this day, up 1.50% from the previous day (based on 24 hours).
The analysis is that Bitcoin’s fourth halving took place around 9 a.m. on the 20th, Korean time, and there was no significant change in the price.
Previously, Bitcoin broke the $60,000 level on the 19th as tensions in the Middle East increased ahead of the halving. Bitcoin, which has fluctuated repeatedly since then, is trading at around 95 million won in the domestic won market.
The Jangle Research Team said, “After the halving, which is a four-year event in which the reward (BTC) that Bitcoin miners receive each time they create a new block is halved, the price of Bitcoin has risen significantly in the past,” and “However, the price of Bitcoin has risen significantly.” “As the total amount has grown to 10th place among global investment assets, the increase will be limited compared to the increase in the last cycle, when it rose six times.”
After the Bitcoin halving, market interest is again shifting to Wall Street, including the US Bitcoin spot ETF.
Hong Seong-wook, a researcher at NH Investment & Securities, pointed out, “Recently, there has been an outflow of funds from the U.S. Bitcoin spot ETF for four consecutive days,” adding, “The reason why the Bitcoin price reacts sensitively to U.S. economic indicators or geopolitical issues is due to the sluggish supply and demand of ETFs.” did. He added, “US financial institutions must disclose their securities holdings for the first quarter by May 15th, so depending on the contents, this could be positive for investor sentiment.”
The issue of the US government’s fiscal soundness is another point to watch. The explanation is that as doubts about the possibility of controlling U.S. inflation and deepening fiscal deficit continue, the value of Bitcoin may become more prominent.
Researcher Hong said, “If the U.S. debt ceiling negotiations are difficult, Bitcoin can serve as a hedge against technical default of U.S. Treasury bonds.” He added, “Previously, the U.S. government credit rating was lowered in 2011, 2013, and 2023 when the debt ceiling negotiations were difficult.” “It was threatened, and this year corresponded to three of the past five Bitcoin bull markets,” he emphasized.
elikim@fnnews.com Reporter Kim Mi-hee
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