Bitcoin exceeds $ 30,000 | coindesk JAPAN | Coindesk Japan

Bitcoin (BTC) has crossed $30,000. For the first time since June 10, 2022, bank turmoil has subsided and optimism about Federal Reserve policy has spread.

Bitcoin is at $30,237 at the time of writing, up 6.75% in 24 hours.

“It’s clear that the market is pricing in slower economic growth, which means the Fed will loosen monetary policy,” said Richard Mico, Banxa’s U.S. CEO and chief legal officer. (Richard Mico) said.

In the bond market, two-year US Treasuries have fallen below 4% from above 5% in early March as traders quickly reversed expectations of a Fed rate hike.

“There will likely be a lot of liquidity injected into the market as a result.” It’s a responsive asset,” Maico said.

After surpassing $30,000 on June 10, 2022, Bitcoin will remain below $20,000 in late 2022 and early 2023. It has been hovering around $28,000 for the past three weeks. After starting the year near $16,600, it is up about 80%.

“Undeniably, bitcoin has decoupled from equities and is becoming more attractive as a safe haven asset for retail and institutional investors,” securities tokenization firm Sologenic said in a statement to CoinDesk. co-founder Bob Ras.

“While 2020-2021 was perceived as a breakthrough moment for Bitcoin, it truly marks the arrival of a great asset on the global stage,” Rath said.

“De-dollarization is also becoming part of the story, further accelerating the adoption of Bitcoin,” Maico said. “With Bitcoin, you become a bank yourself. It’s hard to predict, but I wouldn’t be surprised if this momentum with Bitcoin continues.”

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: CoinDesk
｜Original: Bitcoin Breaks Above $30K for First Time Since June 2022