According to sources from Reuters on December 28, 2024, the crypto market has witnessed notable fluctuations as Bitcoin - the leading coin - fell 1.56% to $94,196. Despite recording a slight decrease in recent days, Bitcoin continues to maintain an impressive growth rate of about 122% over the past year.
This context coincides with the Japanese Yen appreciating after some policymakers from the Bank of Japan (BOJ) expressed optimism about the possibility of raising interest rates soon. However, traditional monetary markets are still experiencing significant other fluctuations, such as the Chinese Yuan nearing a 13-month low due to threats from additional tariffs by the United States.
Meanwhile, altcoins are also caught in the whirlpool of volatility with no clear signs of recovery. Analysts believe that upcoming economic moves from the US government could greatly impact the health of the crypto market, prompting investors to be cautious and adjust their strategies.
Another significant development is that South Korea is also facing a political crisis, which could add further pressure on financial and crypto markets in the Asian region.
The pressure from changes in global monetary policy and political influences is causing traders to reconsider their investment decisions, especially in the context of some analysts predicting that the recovery of the US Dollar will be hard to contain the long-term growth of the crypto market.
Source: Reuters, December 28, 2024.
