Cryptocurrency markets once again moved independently yesterday. While the US stock market generally declined, BTC retreated to $95,000 and ETH also rose back above $3,300, similar to the upward trend seen earlier last week. The reason for this rally is believed to be related to the US releasing core CPI figures lower than expected, suggesting that inflation is not as high as anticipated. This could influence the Federal Reserve’s interest rate decisions and potentially shake the expectation of no rate hikes in January. As a result, after a week of stagnation, the crypto market experienced a noticeable surge again.
But in this situation, why did the US stock market fall? Looking at the trend over the past week, while the crypto market continued to be sluggish, US stock indices hit new highs for several consecutive days. Simply put, after a significant rise, a correction is needed. The same logic applies to the crypto market: after falling too much, a rebound occurs. If we look for reasons for the US stock decline, it actually mirrors the reasons for the recent crypto market drop: the Iran situation. Yesterday, Trump announced support for Iranian opposition protesters, leading the market to anticipate an imminent war. The crypto market moved first ahead of the US stock market.
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