[Bitcoin Now] US Stock Market 'Tailwind' Yet Only Slight Rise... Investor Sentiment 'Contraction'

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] As the US stock market closed higher, the price of the representative cryptocurrency Bitcoin also showed a slight upward trend.

According to the global cryptocurrency market tracking site CoinMarketCap, as of 1:41 PM on the 22nd, the price of Bitcoin was recorded at $19,153 (approximately 27.54 million KRW), up 0.40% from the previous day.

The US stock market, which showed a synchronized movement, closed with gains in the 2% range. On the 21st (local time), the Nasdaq index, centered on technology stocks, rose 244.87 points (2.31%) to 10,859.72. The Dow Jones Industrial Average increased by 748.97 points (2.47%) to 31,082.56, and the large-cap S&P 500 index closed 86.97 points (2.37%) higher at 3,752.75.

The US stock market showed an upward trend on expectations of a slowdown in the Federal Reserve's (Fed) tightening pace. The Wall Street Journal (WSJ) reported that after the Fed's giant step (a 0.75 percentage point increase in the benchmark interest rate) in November, it is expected to discuss slowing the pace of rate hikes in December.

Despite the rise in the US stock market, Bitcoin's price only showed a slight increase, maintaining the $19,000 range. Cryptocurrency specialized media CoinDesk evaluated, "Bitcoin's price has not changed significantly over the past week and three months," adding, "It remains within a limited range below $20,000 and is trading at levels almost similar to those in June."

Cryptocurrency investor sentiment contracted compared to the previous day. According to cryptocurrency data provider Alternative, the Fear & Greed Index, which expresses investor sentiment as an index, fell 3 points from the previous day to 20 points (extreme fear). Alternative's Fear & Greed Index means that the closer the score is to 0, the more pessimistic investors feel (extreme fear), and the closer it is to 100, the more optimistic they are.

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