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The cryptocurrency market is experiencing a downward trend.
As of 8:30 AM on the 23rd, according to TokenPost Market, Bitcoin is trading at $103,882 (approximately 149.13 million KRW), down 1.99% from the previous day.
Ethereum, the second-largest cryptocurrency by market capitalization, is priced at $3,244 (approximately 4.65 million KRW), reflecting a 2.33% decrease from the previous day.
Among major altcoins, movements are mixed: XRP is up 0.49%, Solana has increased by 2.75%, BNB is up 0.58%, while Dogecoin and Cardano have declined by 2.15% and 2.08% respectively. Tron has risen by 3.76%.
Other leading altcoins show mixed movements:
- XRP: up 0.49%
- Solana (SOL): up 2.75%
- Binance Coin (BNB): up 0.58%
- Dogecoin (DOGE): down 2.15%
- Cardano (ADA): down 2.08%
- TRON (TRX): up 3.76%
The total cryptocurrency market capitalization is approximately $3.63 trillion.
In related financial news, according to Barron's on January 21, 2025, the U.S. Federal Reserve's balance sheet reduction policy has become a focal point for markets, as interest rate cuts remain on hold. Analysts suggest that while the Fed's quantitative tightening is expected to continue, it may conclude by the end of 2025, contingent on economic and financial conditions.
The Digital Asset Fear and Greed Index, provided by UBCI, currently reads 59.32, indicating a "neutral" sentiment in the market.
According to Global Economic, with the U.S. Federal Reserve's interest rate cuts on hold, the focus has shifted to balance sheet reduction policies as a new area of interest. Barron's reported on the 21st (local time) that while the Fed's quantitative tightening (QT) policy is expected to continue for the time being, it may conclude by the end of 2025, depending on economic and financial conditions.
The Digital Asset Fear-Greed Index provided by UBCI is at 59.32, indicating a "neutral" stage.
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