[Bitcoin Now] Rising Over 3% Amid Nasdaq 'Tailwind'... Investor Sentiment Also Improving

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] As the U.S. stock market closed higher due to better-than-expected bank earnings, the price of the leading cryptocurrency Bitcoin is also on the rise.

According to the global cryptocurrency market tracking site CoinMarketCap, as of 9:57 a.m. on the 18th, the price of Bitcoin was recorded at $19,588 (approximately 27.97 million KRW), up 1.85% from the previous day.

Bitcoin prices are rising as banks report strong earnings and the UK government withdraws most of its tax cut plans, leading to a higher close in the U.S. stock market. The tech-heavy Nasdaq index closed up 354.41 points (3.43%) at 10,675.80. The large-cap S&P 500 index ended at 3,677.95, up 94.88 points (2.65%), and the Dow Jones Industrial Average closed at 31,185.82, up 550.99 points (1.86%) from the previous session.

Bank of America (BoA) and BNY Mellon posted earnings that exceeded expectations, rising 6.06% and 5.08%, respectively. Roblox, a metaverse gaming platform that announced a 23% increase in users compared to a year ago in September, rose nearly 20%.

Cryptocurrency specialist media CoinDesk stated, "Investors continued a cautious return to risk assets by pushing up the prices of cryptocurrencies including Bitcoin for the second consecutive day," but also noted, "However, it remains to be seen how long this modest rise will last."

Meanwhile, according to cryptocurrency data provider Alternative, the Fear & Greed Index, which measures investor sentiment, rose by 2 points from the previous day to 22 points (extreme fear). Alternative’s Fear & Greed Index ranges from 0 points, indicating extreme fear and pessimism about investing, to near 100 points, indicating optimism.

This content was produced with the assistance of AI translation services.