On January 9, 2025, according to a report from Reuters, the global financial market is going through a volatile period with a sharp decline in the Asian stock market and the USD holding its highest level in more than a year. In this context, the coin market is not out of this volatility.
Bitcoin, the market leader, is currently holding at $94,508 after suffering a 7% decline over the past two days. This comes as other altcoins are also facing significant declines.
The market is watching the latest economic reports from the United States, which are expected to have a significant impact on exchange rate trends and may influence the Federal Reserve's interest rate situation. Political factors from the U.S., specifically the anticipated policies from President-elect Donald Trump, are exerting significant pressure on traditional currencies and the crypto market.
Moreover, the stability of the Chinese Yuan near its lowest level in 16 months against the USD, along with the People's Bank of China implementing supportive measures, has attracted the attention of investors. At the same time, crude oil and gold prices are also experiencing slight adjustments due to fluctuations in the USD.
In the context of a global market experiencing complex fluctuations, investors in the coin sector need to be more cautious with their decisions. Closely monitoring the economic situation and monetary policy can help formulate more appropriate strategies for investing in crypto or altcoins at this time.
Source: Reuters.
