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The yen weakens significantly against the euro and dollar after Japan's Prime Minister supports sustained low interest rates. In contrast, the Australian dollar gains strength following better-than-expected employment figures, reducing the likelihood of near-term rate cuts.
Bitcoin's price has plummeted beneath the $100,000 mark, reflecting increased caution in the market toward risk assets. With large investment funds and corporate treasuries pulling back, signs of a bear market are becoming apparent, leading analysts to note a significant decline in market sentiment. Concurrently, demand for protective options in the derivatives market has surged, indicating heightened investor fears about future price movements. Despite Bitcoin maintaining some gains since the beginning of the year, recent trends raise concerns, necessitating close attention to upcoming critical support levels.
Asian stock markets are on edge as investors eye Nvidia’s upcoming earnings report amid speculation surrounding interest rates and the broader implications for the AI stock rally and U.S. economic indicators.
The yen hits a nine-month low against the dollar, driven by declining expectations for a Federal Reserve rate cut. Japanese officials express concern over the rapid currency depreciation and economic impact.
Bitcoin (BTC-USD) extended its losses on Monday, slipping below the $92,000 mark and pushing its decline from October’s all-time high to more than 26%. The ongoing downturn has reignited a key debate among traders: Is this a short-term correction, or the start of a prolonged bear market driven by Bitcoin’s historical four-year cycle?