U.S.-China prospects for Ukraine talks
Coin Market Sentiment Index “Neutral”
As if avoiding a Russian default, the US stock market ↑ [Edaily Choi Hoon-gil] The coin market remained flat. Market interest has grown on news that Russia will avoid default and that US President Joe Biden and Chinese President Xi Jinping will hold a phone call on Ukraine.
US President Joe Biden and Chinese President Xi Jinping. According to CoinMarketCap, a site for cryptocurrency market conditions on the 18th, at around 8 am on the day, Bitcoin recorded $49,977, up 0.14% from the previous day. Bitcoin crossed the $40,000 mark for two days in a row.
Ethereum is up 2.59%. Altcoins also rose slightly, with Ada 1.67% and Solana 3.03%. As of todays domestic Upbit, Bitcoin recorded 50.11 million won, down 0.55% from the previous day. For two days in a row, it has surpassed 50 million won.
The ‘digital asset psychology index’ provided by Dunamu, which operates Upbit, recorded ‘neutral’ at 49.57 as of the 17th. This is similar to the index of the previous day. This index is for 111 digital assets listed on the Upbit KRW market before February 2021. A value of 0 indicates a contraction of the market as ‘very fear’, and a value of 100 indicates a boom in the market as ‘very greed’.
According to Coinwords, a cryptocurrency mining information site, the hash rate of Bitcoin recorded 214.17 EH/s on the 17th. It was slightly lower than the day before. Hash rate refers to the computational processing power mobilized to mine Bitcoin. In general, the lower the hash rate, the lower the difficulty of mining, which increases the supply and increases the likelihood that the price of Bitcoin will fall.
US stocks rose slightly. According to Marketpoint on the 17th, the Dow Jones Industrial Average closed at 34,480.76, up 1.23% from the previous trading day. The Standard & Poors 500 index rose 1.23% to 4411.67. The Nasdaq Composite rose 1.33% to close at 13,614.78. The Russell 2000 Index closed 1.69% at 2065.02.
Major indices rose sharply after a Reuters report on Ukraine. Reuters reported on the same day that “some creditors have received interest on government bonds that Russia paid in dollars,” and “it seems likely that the default crisis can be avoided for now.”
President Biden and President Xi Jinping agreed to speak on the afternoon of the 18th. White House press secretary Jen Saki said the two leaders would “discuss the Russian invasion of Ukraine and other issues of mutual interest.” Chinese Foreign Ministry spokeswoman Hua Chunying said the two sides would “exchange views on common concerns.”
On the 17th and 18th, Bitcoin maintained a similar price.