Bitcoin hits a new all-time high in yen; virtual currency-related stocks also rise significantly | 15th Financial Tankan

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Virtual currency (crypto assets) related stocks significantly higher *2/15 (Thursday)

Coinbase｜$160.3 (+14.2%)
MicroStrategy | $769.8 (+12.2%)
Marathon Digital Holdings | $29.4 (14.3%)

Cryptocurrency-related stocks rose sharply as Bitcoin returned to the $50,000 level, hitting a new high this year.

connection: Chairman of MicroStrategy, which owns a large amount of Bitcoin, talks about outlook and business policy on CNBC

connection: Bitcoin rises above $50,000, bullish trend becomes clearer

Virtual currency market

Bitcoin (BTC): $51,819 +4.7%
Ethereum (ETH): $2,773 +5.4%

By returning to the $51,000 level, Bitcoin has regained its market capitalization of $1 trillion since November 2021.

In addition, due to the strong dollar and weak yen, Bitcoin hit a new all-time high in yen terms. (Bitflyer data)

The spot Bitcoin price on the exchange has exceeded the ATH (All Time High) of 7,794,000 yen! https://t.co/q7W421FpGO#bF10 pic.twitter.com/6fMcWGdozC

— bitFlyer (@bitFlyer) February 14, 2024

A decline in GBTC sales, an increase in net inflows to Bitcoin ETFs, and high demand from institutional investors ahead of the halving have all pushed up the market.

Although the dollar-denominated ATH has not been reached, countries with weak national currencies such as Turkey, Egypt, and Argentina have already updated it.

#Bitcoin is trading at all time highs in:

Argentine Peso
Turkish Lira
Egyptian Pound
Lebanese Pound
Japense Yen

Just a matter time for the US Dollar. pic.twitter.com/DBasweCyvx

— Priced in ₿itcoin ∞/21M (@PricedinBTC) February 13, 2024

connection: “This Bitcoin halving is different from the last time” Grayscale analysis

Special feature for virtual currency beginners

Traditional finance US stock rebound

NY Dow: 38,424 +0.4%
Nasdaq: 15,859 +1.3%
Nikkei average: 37,703 -0.69%
USD/JPY: 150.5 -0.01%
Amazon: $170.9 +1.4%
NVIDIA: $739 +2.5%

Today's NY Dow and Nasdaq rebounded. The previous day, the stock had fallen sharply due to the strong CPI data for January (overall +3.1%), but today it appears to have recovered from the previous day's decline as market buying took the lead.

Following the CPI results, the market predicted that the Fed's potential interest rate cuts would be postponed from May to June, before the CPI announcement. As of the end of last year, observations had been made since March.

Additionally, interest rates are expected to be cut by up to 1% (100 basis points) this year, but the Fed's forecast (dot plot) was for three cuts this year.

Two weeks ago, after the FOMC conference, Chairman Powell denied the possibility of a rate cut in March, significantly lowering market expectations.

connection:Bitcoin fluctuates wildly following CPI announcement

Today's main market materials are as follows:.

The dollar yen = 150.49 yen, returning to the level of last November.
In response to the accelerating depreciation of the yen, Finance Minister Masato Kanda announced on the 14th that he would take the most appropriate response if necessary, but did not specify the line of intervention.

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Important economic indicators/events from this week onwards