After the price increase last week, Bitcoin$BTC

(BTC) and the altcoin market faced selling pressure early this morning. Bitcoin is down nearly 1.97% to $64,536, while Japan’s Nikkei 225 index is down almost 5%. Shigeru Ishiba’s election victory has rekindled concerns about a rate hike, creating uncertainty in the markets.

Bitcoin, which had a strong performance in September, has been under selling pressure this week due to developments in Asian markets. Economic and political tensions in Japan have had a negative impact on crypto assets. Geopolitical developments such as Israel’s targeting of the Hezbollah leader have also made market participants nervous.

The Nikkei 225 Index fell 4.64% against the strong Japanese yen, falling below 38,000. Shigeru Ishiba’s victory increased the likelihood that the Bank of Japan will support a rate hike in its monetary policy. This put pressure on the Japanese yen and reduced investors’ risk appetite. Crypto analytics firm Santiment emphasized that the market is following a contrary trend. Although Bitcoin gained 9% in September, current economic and political uncertainties make it difficult to achieve year-end targets.

Ethereum$ETH

(ETH), BNB and other altcoins also lost value due to selling pressure. Among memecoins, Dogecoin (DOGE) and Shiba Inu (SHIB) were the most damaged assets. However, XRP attracted attention with a 5.3% increase despite the general market correction.

  • Expectations for Bitcoin's year-end target of $100,000 continue.

  • Policy decisions by the Bank of Japan could affect crypto markets.

  • US unemployment data and economic policies have the potential to increase market volatility.

  • The actions of institutional investors can shape the future of crypto assets.

  • Geopolitical developments bring with them short-term uncertainties.

As investors await the US unemployment data, Bitcoin and altcoins are likely to see continued volatility. Crypto analysts are emphasizing that the market should take a cautious approach in the current conditions. In the meantime, Bitcoin is expected to make a strong rally in the fourth quarter.