[뉴욕 코인시황/출발] Bitcoin retreats around 67K, taking a breather…maintaining a positive outlook

[뉴욕 = 장도선 특파원] The cryptocurrency market continues its downward trend in Asian and European time zones ahead of the opening of the New York stock market on the 17th. <a href="https://www.world-today-news.com/from-41000-in-2020-to-100000-in-2021/" title="from $ 41,000 in 2020 to $ 100,000 in 2021?”>Bitcoin retreated to around $67,000.

Although the New York Stock Exchange’s stock index futures showed an upward trend, suggesting that risk-seeking tendencies are still maintained, the cryptocurrency market appears to be taking a breath and exploring its direction. Although the cryptocurrency market has stopped rising further and is undergoing a slight adjustment, the overall mood is not bad.

CoinDesk analyzed that many signals, from technical market indicators to market outlook bets, point to the possibility of Bitcoin reaching $70,000 in the near term. Fund flow is also positive. The Bitcoin spot ETF recorded large fund inflows for four consecutive days, and the Ethereum spot ETF also experienced a net inflow.

Expectations for former President Donald Trump’s victory in the US presidential election and increased liquidity following the easing of global monetary policy continue to support the possibility of further rallies in the cryptocurrency market. The European Central Bank (ECB) cut interest rates for the third time this year. On the other hand, geopolitical crises such as war in the Middle East and regulatory uncertainty surrounding the digital asset industry are pointed out as potential risks.

At 8:20 a.m. on the 17th, New York time, the cryptocurrency market capitalization on CoinMarketCap was $2.3 trillion, down 1.65% from 24 hours ago. Compared to the closing time of the New York stock market the previous day, it decreased by $30 billion. The 24-hour trading volume of the cryptocurrency market decreased by 34.23% to $73.6 billion. Bitcoin dominance was calculated at 57.6%, and Ethereum dominance was calculated at 13.6%. The fear and greed index of the cryptocurrency market is 60, up 2 points from the previous day, indicating a state of greed.

CoinMarketCap (8:20 a.m. on the 17th, New York time)

At this time, Bitcoin fell 1.18% from 24 hours ago to $67,041 on CoinMarketCap. Bitcoin advanced to $68,266.95 in New York time the previous day. Bitcoin is experiencing a correction after hitting an all-time high of $73,750.07 on March 14. Ethereum fell 1.04% to $2608. Ethereum’s all-time high is $4891.70 on November 16, 2021.

Other altcoins ranked in the top 10 by market cap show mixed trends compared to 24 hours ago. BNB fell 1.29%, Solana 2.62%, Dogecoin 3.16%, and Toncoin 2.75%. On the other hand, XRP rose by 1.77% and Tron by 0.28%.

Bitcoin futures listed on the Chicago Mercantile Exchange (CME) for October were down 1.18% at $67,125, for November were down 1.19% at $67,685, and for December were down 1.33% at $68,010. Ethereum October contract fell 0.53% to $2610.00. However, the November contract advanced 0.42% to $2655.00.

Based on Wall Street Journal data, the dollar index fell 0.09% to 103.50. The yield on 10-year U.S. Treasury bonds rose 2.0bp to 4.038%.

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“Bitcoin is strong after $66,000” – analyst George Tung