US stocks rebound can't save Bitcoin's decline, as Bank of Japan decision and options settlement trigger market concerns

Source: DecenterKorea Original Title: New York Stock Market Rebounds but Bitcoin Continues to Decline [Decenter Market Overview] Original Link: https://www.decenter.kr/NewsView/2H1SHSO2KE/GZ03

The US Consumer Price Index(CPI) slowdown has driven the rise of the New York stock market, but the cryptocurrency market remains weak. Upcoming events such as the Bank of Japan(BOJ)'s interest rate decision and large-scale Bitcoin options expiration next week are causing volatility and a shrinking investor sentiment.

According to data from the global crypto asset market relay site, Bitcoin(BTC) has fallen 0.63% in the past 24 hours, with a trading price of $85,484.48. On the same evening, it briefly dropped to the $84,000 range.

Ripple(XRP) declined 2.46% to $1.81, Binance Coin(BNB) fell 1.27% to $830.04, while Ethereum(ETH) increased only 0.25% to $2,828.17.

The domestic market is also weak. During the same period, Bitcoin dropped 3.01% to 127 million Korean Won. Ethereum fell 3.90% to 4.213 million Korean Won, Ripple declined 4.50% to 2,698 Won, and Solana dropped 4.87% to 177,800 Korean Won.

The New York stock market closed higher the night before due to CPI slowdown, increasing expectations for a rate cut. In contrast, Bitcoin continued to weaken due to caution ahead of the Bank of Japan’s rate decision. Experts analyze that if the Bank of Japan raises interest rates, it could further pressure risk assets through Yen appreciation.

Additionally, Bitcoin faces options expiration on the 26th with a scale of $23 billion. Analysts believe that additional selling pressure has intensified the downward trend.

The fear and greed index of the crypto asset data analysis company is at 17 points, indicating an “extreme fear” state. The closer the index is to 0, the more investor sentiment is shrinking; the closer to 100, the more overheated the market is.