[시황] Market disappointed in Powell… Stocks, Bitcoin, Ethereum all fell

■ As of 10 o’clock this morning, bitcoins traded at around $46,600 each. That’s an 8.5% drop in 24 hours.

■ Over the course of 24 hours, the price of bitcoin has gone between $46,600 and $51,780.

■ Yesterday’s price decline was a week ago by Fed Chair Jerome Powell. “A rise in US Treasury yields will lead to an increase in borrowing costs, which will worsen the overall fiscal condition.”It seems to have something to do with what he said.

Chairman Powell’s remarks Signs that the U.S. government may be hesitant to offer new stimulus packagesIs interpreted as. Bitcoin price has quadrupled over the past year, and has risen again by 66% this year, fueled by expectations that central banks around the world can act as inflation hedges in a situation where central banks around the world are printing trillions of dollars of currency.

In a recent interview with the Wall Street Journal, Powell said, “I don’t expect high inflation to continue.”

Issued by the US Treasury Department Interest rates on 10-year bonds have risen by more than 1.5%. According to Bloomberg News, it is the result of the spread of disappointment among investors in traditional financial markets, who believed the Fed would come up with concrete measures to lower long-term interest rates.

For investors who believe Bitcoin is a good way to hedge the risk of currency depreciation. Powell’s comments seemed to be a sign that the Fed was not planning a new monetary easing policy.

Cryptocurrency investor Alex Kruger said on his Twitter account that “Powell did not come up with a new policy,” and “it is just a repeat of the easing policy he has adhered to.

The stock market also fell. This is interpreted as the effect of a somewhat blurred expectation that potentially more stimulus measures could drive the stock market rise.

Ether, bitcoin and coincident decline

Ether (ETH), the second largest cryptocurrency market capitalization, fell along with Bitcoin (BTC). As of 10 o’clock this morning, it was traded at around $1470 each, which is about 7% down over 24 hours.

It is still less than the record high of $2036 ​​each.

Last week, it went around $1420-1570, and remained relatively unchanged.

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