Bitcoin fluctuates wildly following CPI announcement, OAS gains interest in South Korean market by 32.7% compared to previous week

Macroeconomics and financial markets

On the US New York stock market on the 13th, the Dow Jones Industrial Average closed down 524 points (1.3%) from the previous day, and the Nasdaq index closed down 286 points (1.8%). This is because the results of the US Consumer Price Index (CPI) exceeded market expectations, reducing expectations for an early interest rate cut from the Federal Reserve.

According to the CME FedWatch Tool, which tracks trends in the interest rate futures market, the probability of a rate cut in March is quite low at 8.5%, and the probability of a rate cut in May is also below 40%.

Due to the decline in US stock indexes, crypto asset (virtual currency) related stocks in the US have changed from the previous day's overall high, with Coinbase down 4.9%, MicroStrategy down 4.5%, and Marathon Digital down 6.1%. % and overall decline.

CoinPost app (heat map function)

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Virtual currency market conditions

In the crypto asset (virtual currency) market, Bitcoin (BTC) fell 0.74% from the previous day to 1 BTC = $49,582.

BTC/USD daily

There was a time when the CPI (U.S. Consumer Price Index) plunged immediately after the announcement, but it quickly rebounded.

BTC/USD time frame

U.S. Bitcoin spot ETFs saw net inflows of about $1.2 billion over the past week as outflows from Grayscale's Bitcoin Trust (GBTC) slowed. .

Net inflows into Bitcoin spot ETFs reached more than $3 billion as of last week. The Coinbase Premium Index is rising, indicating increasing buying pressure on crypto asset (virtual currency) exchanges.

coinbase premium

Analysts at AllianceBernstein, an asset management firm with $725 billion in assets under management, predict that Bitcoin (BTC) prices will reach record highs by the end of this year, assuming further inflows into Bitcoin ETFs and tight supply during the halving. The company is of the view that it will be updated.

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altcoin

Among major alts, Solana (SOL), which exceeded the $100 level, continued to rise to the $111 level, rising 10.4% from the previous week and 18.3% from the previous month.

Oasys (OAS) has soared.

By exchange, bitbank, which is denominated in Japanese yen, only has a 4.8% share, while Bithumb, a major Korean crypto asset (virtual currency) exchange that was listed in March last year, has a market share of 64.1% in OAS/KRW (Korean won). %, indicating an influx of Korean capital following ASTR.

On the 13th, we concluded a partnership with XPLA, a Web3 business subsidiary of Korean gaming giant Com2uS, and decided to build Oasys Verse.

It was announced that Oasys blockchain will be used for Com2uS's major game titles such as Summoners War: Chronicle and The Walking Dead: All Stars.

Exciting News@Com2uS & @XPLA_Official are set to debut a new Verse on Oasys and bring their games to the chain, including hit titles 'Summoners War: Chronicles' and 'The Walking Dead: All-Stars'

Let's explore this new #Web3Gaming experience on #Oasys together. Game on!… pic.twitter.com/Ml83eH1D9a

— Oasys | Blockchain for Games (@oasys_games) February 13, 2024

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We have introduced the “Heat Map” function to the CoinPost app for investors!
In addition to important news about virtual currencies, you can also see at a glance exchange information such as the dollar yen and price movements of crypto asset-related stocks in the stock market such as Coinbase.

■Click here to download the iOS and Android versions
https://t.co/9g8XugH5JJ pic.twitter.com/bpSk57VDrU

— CoinPost (virtual currency media) (@coin_post) December 21, 2023

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