“Finally, Is It Happening?” Bitcoin Breaks Above $81,000 as Rate Concerns Ease [Crypto Briefing]

[Financial News] Bitcoin has risen above the $81,000 level. Investor sentiment toward virtual assets appears to have recovered as concerns over a policy rate hike eased and the rise in long-term Treasury yields moderated.
According to CoinMarketCap, a global virtual-asset information platform, Bitcoin was trading at around $80,000 as of 10:20 a.m. on the 4th, up 4.70% from the previous day on a 24-hour basis. Bitcoin has fallen 0.03% over the past week.
Bitcoin showed strength after rising as high as $81,000 that day. It was the first time in four months, since May, that Bitcoin had surpassed the $81,000 level.
Bitcoin was trading at around 110 million won in the Korean won market. According to Cryprice, a global platform comparing virtual-asset market conditions, the Korea premium stood at 0.79%.
The immediate catalyst for the rise was the reduced likelihood of a policy rate hike by the Federal Reserve (Fed). Fed Governor Christopher J. Waller said on the 3rd local time that he could support keeping the policy rate unchanged if future inflation data confirm easing inflationary pressure.
U.S. long-term Treasury yields also fell as concerns over rate hikes eased. The yield on 30-year U.S. Treasury bonds closed at 5.246% the previous day, down 0.091 percentage points from the intraday high of 5.337% recorded on the 18th of last month. Analysts also say that the U.S. government’s long-term Treasury buybacks are having a positive effect on the virtual-asset market over the medium to long term.
The “Crypto Fear and Greed Index” provided by CoinMarketCap stood at 78 that day, indicating “greed.” The index ranges from 0 to 100: readings closer to 0 are interpreted as “extreme fear,” while those closer to 100 indicate “extreme greed.”
At the same time, Ethereum was trading at around $2,506, up 4.95% from the previous day. Ripple (XRP) was trading at around $1.44, up 7.00%.

[email protected] Lim Sang-hyuk Reporter