Yen surged 5.04% from 24 hours ago to $65,912. However, Bitcoin surged to $66,265 a few hours ago, surpassing $66,000.
This is the first time the coin has topped $66,000 since September 28. Bitcoin's surge on that day was fueled by a rally in the U.S. stock market, China's stimulus package and Democratic Party leader Kamala Harris.
It is analyzed that this is because the new cryptocurrency (virtual currency) speech of the party's presidential candidate is scheduled. First, cryptocurrency media CoinDesk said that China's economic stimulus measures are the main reason for the rise in Bitcoin.
On the 12th, China announced that it would use a fiscal expansion policy even if it had to incur a fiscal deficit. While the stock market was disappointed that there were not enough concrete plans, the cryptocurrency market was on the defensive.
The US stock market has also been rising day by day. Last weekend, the Dow and S&P 500 rallied to new all-time highs.
Following the 14th, the stock market also continued to rally, with all three major indexes rising. This is due to favorable US macroeconomic indicators and the Fed entering interest rate reduction mode.
Not only that, Democratic presidential candidate Ha Ri Su is also expected to make pro-cryptocurrency statements on the same day. Candidate Ha Ri Su said in a press release issued in advance that "20% or less of the black population in the United States
"We know that many of our customers own or have owned crypto assets, and we will ensure that digital asset owners and investors benefit from a regulatory framework that is in place."
The combination of these favorable factors seems to have caused Bitcoin to rally on this day. When Bitcoin rallies, other coins also rise in unison. Ethereum, the second largest by market capitalization, is at 6.
48%, while Solana, the fifth largest by market capitalization, has soared 6.71%.
2024/10/15 11:27 KST
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