![[뉴욕 코인시황/마감] Bitcoin “K saved” …XRP’s strong rise stands out](https://www.blockmedia.co.kr/wp-content/uploads/2021/03/00마감-1.png "[뉴욕 코인시황/마감] Bitcoin “K saved” …XRP’s strong rise stands out")
On the 4th (local time), the cryptocurrency market ended with a stronger decline compared to the morning, focusing on major stocks. Despite Fed Chairman Jerome Powell’s remarks on the low interest rate policy, bond yields soared and the financial market was greatly shaken. The digital asset market was relatively good at absorbing shock waves.
Nine of the top 10 stocks have fallen, and 75 of the top 100 have a red light indicating a decline.
# Out of the top 10, only XRP rises
According to CoinMarketCap, the price of bitcoin was $48,143.18 as of 4 p.m. New York time, down 5.03% from the previous 24 hours.
Ethereum fell 4.02%, Cardano 9.18%, Binance Coin 6.00%, Polkadot 5.57%, Litecoin 4.51%, and XRP price rose 6.81%.
At this time, the market capitalization of the cryptocurrency market was $1,471.5 billion, and the share of Bitcoin was 60.7%.
Source: Coin Market Cap (as of March 4th, New York time at 4pm)
# Powell’s comment is colorless, soaring bond yields… Promote digital assets
Chairman Powell said, “The rise in inflation will be temporary and we will continue the easing policy stance until the goal is achieved.” Despite remarks confirming the low interest rate, the US 10-year Treasury bond yield jumped to 1.55%. The Dow and S&P index fell more than 1%, and the Nasdaq index turned negative compared to the beginning of the year.
Although the digital asset market had a larger drop compared to the morning, the decline in the digital asset market was relatively modest compared to the existing financial market.
The Chicago Merchandise Exchange (CME) bitcoin futures price also continued to decline. March, which is the most actively traded, fell by $3140 to $4776, while April fell by $3200 to $48,320, and May fell by $3265 to $48,790.
The Ethereum futures price fell by $57.00 in March to $1531.50, and by $64.25 in April, it fell to $1553.00, and in May, it fell by $81.50 to $1560.00.
# Bitcoin selling pressure weakening signal
In the cryptocurrency market, the decline of major stocks increased during the week. Bitcoin is up and down $48,000, and its trading volume has declined to the level of $53 billion.
Ethereum retreated to the beginning of $1500, and Cardano fell sharply, dropping to fourth place in the market cap.
Cryptoglobe analyzed that the steadily declining bitcoin holdings on cryptocurrency exchanges in recent weeks could be a sign of a price increase.
According to ViewBase data, the net outflow of bitcoins from major exchanges was 47,507, with more than 51,000 bitcoins exiting Coinbase in the last 30 days.
A large amount of bitcoins exiting the exchange shows investors plans to hold funds for the time being, while bitcoins coming into the exchange can be understood with the intention of selling assets or exchanging them for other stocks in the near future.
Cryptoglobe is accordingly The decline in bitcoin holdings at exchanges suggests that the selling pressure for bitcoins is lowering.Pointed out.
Meanwhile, in the cryptocurrency market, XRP showed a strong rise with most of the major stocks such as Bitcoin.
YouTube analyzed the rise of XRP as a result of the news that the previous day, Ripple’s management submitted a letter to the court demanding that the US Securities and Exchange Commission (SEC) dismiss the lawsuit.
In addition, YouTube said that Ripple’s aggressive hiring of new employees in San Francisco and its unwillingness to move its headquarters seems to have affected XRP’s rise.
The US New York Stock Market fell 1.11% for the Dow, 2.11% for the Nasdaq and 1.34% for the S&P 500.