With the easing of geopolitical tensions due to the ceasefire agreement between Iran and Israel, the New York stock market closed strong, and the cryptocurrency market is also continuing its upward trend. Bitcoin (BTC) has rebounded to the $106,000 range. Following the news of the U.S. Senate's push for cryptocurrency regulation, the stock prices of related companies, including Coinbase, the largest U.S. exchange, have also soared.
According to CoinMarketCap, a global cryptocurrency market tracking site, as of 8 AM on the 25th, BTC is trading at $106,072.46, up 0.33% from the previous day. Altcoins are also rising in tandem. Ethereum (ETH) recorded $2,442.81, up 1.14%. XRP is up 1.49% at $2.18, and Solana (SOL) is trading at $144.87, up 0.14%.
The domestic market is also generally on the rise. At the same time, BTC on Bithumb recorded 145,645,000 won, up 0.26% from the previous day. ETH is up 0.30% at 3,356,000 won, XRP is up 0.07% at 3,008 won, and SOL is up 0.05% at 199,300 won.
The easing of geopolitical tensions due to the ceasefire agreement between Iran and Israel is believed to have influenced the market. Iran stated that "the 12-day war against the Iranian people has ended," and Israel said, "We will respect the ceasefire as long as the other party does." Consequently, the New York stock market also closed higher. The Dow Jones Industrial Average rose 1.19%, the S&P 500 rose 1.11%, and the Nasdaq Composite rose 1.43%. The Nasdaq 100 index closed at 22,190.52, up 1.53%, surpassing its previous high of 22,175.60 set on February 18.
Cryptocurrency-related stocks also surged simultaneously. Coinbase rose 12.10%, Strategie rose 2.68%, and Robinhood rose 7.41%. This appears to be due to news that the U.S. Senate is pushing for a cryptocurrency regulatory framework. On this day, CNBC reported that Republican senators, including Senate Banking Committee Chairman Tim Scott (South Carolina) and Cynthia Lummis (Wyoming), plan to unveil the framework of a key bill defining cryptocurrency regulation.
Cryptocurrency investment sentiment has also recovered. The Fear and Greed Index by cryptocurrency data analysis firm Alternative.me recorded 65 points, up 18 points from the previous day, transitioning to a 'greed' state. This index indicates that the closer it is to 0, the more constrained the investment sentiment, and the closer it is to 100, the more overheated the market is.
- Reporter Shin Jung-seop
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