New York Stock Exchange Reaches New High Again… Virtual Assets Are in a Mixed Rise [Decenter Market Situation]

While major New York stock indices have set new highs, major cryptocurrencies such as Bitcoin (BTC) are showing mixed trends.

According to Coinmarketcap, a global cryptocurrency market tracking site, as of 8 AM on the 1st, BTC is trading at $107,164.88, down 0.90% from the previous day. Ethereum (ETH) is down 0.35% at $2,492.65.



In contrast, XRP, which announced the launch of XRP Ledger Ethereum Virtual Machine (EVM) sidechain, rose 2.13% to record $2.263. Expectations that the XRP Ledger EVM sidechain, which uses XRP as a fee (gas), will expand XRP's utility are driving buying pressure. Solana (SOL) is also up 1.41% at $155.24.

The domestic market shows a similar trend. At the same time on Bithumb, BTC is down 0.26% to 145,824,000 won. ETH is up 1.53% at 3,389,000 won, XRP is up 3.14% at 3,071 won, and SOL is up 2.03% at 211,000 won.

The New York stock market continued its upward trend, buoyed by trade negotiation expectations. Investment sentiment improved with the possibility of a US-Canada trade agreement ahead of the expiration of the tariff policy pursued by former President Donald Trump.

On the 30th (local time), the Dow Jones Industrial Average closed at 44,094.77, up 275.50 points (0.63%) from the previous day. The S&P 500 index rose 31.88 points (0.52%) to 6,204.95, and the Nasdaq Composite index increased 96.27 points (0.47%) to 20,369.73. The S&P 500 and Nasdaq set new highs again after recording all-time highs on the 27th of the previous month.

Particularly, the Canadian government's sudden withdrawal of plans to impose a 'digital tax' on US tech companies worked as a positive factor. This measure came two days after Trump stated on Truth Social on the 27th that "the digital tax is a blatant attack by Canada" and that he would "immediately terminate all trade talks".

Meanwhile, concerns about supply exceeding demand have been raised in the BTC market. Onchain analysis firm Cryptoquant contributor Crazyblack explained that "the volume from miners and long-term holders realizing profits is greater than the buying pressure".

He diagnosed this trend as a weakness signal from two perspectives. He said, "Increasing sellable volume could create downward price pressure" and "Especially long-term holders' selling might indicate that the market has reached a short-term peak".

The Fear and Greed Index from cryptocurrency data analysis firm Alternative.me remains in the 'greed' state at 66 points, down 2 points from the previous day. This index indicates that the closer to 0, the more constrained the investment sentiment, and the closer to 100, the more overheated the market.

Reporter Do Ye-ri