[Bitcoin Now] Slight Rise Despite US Stock Decline

[Asia Economy Reporter Ji Yeon-jin] The leading cryptocurrency Bitcoin showed a slight upward trend on the 26th.

On the 26th, Bitcoin was trading at 45,032,000 KRW, up 0.27% from the previous day as of 11:14 AM on the domestic cryptocurrency exchange Upbit.

As the U.S. Federal Reserve (Fed) held its first Federal Open Market Committee (FOMC) meeting of the year on the 25th-26th (local time), investor sentiment weakened, causing significant overnight volatility, but it has shown a slight upward trend since the morning.

Previously, Bitcoin had been declining continuously in sync with the U.S. stock market. The global stock and cryptocurrency markets experienced a sharp downturn as the U.S. Federal Reserve (Fed) signaled interest rate hikes and quantitative tightening, which dampened investor sentiment toward risk assets.

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However, some view this weakness as a short-term correction and believe cryptocurrency investment offers long-term benefits, which has positively influenced market investors. Anthony Scaramucci, CEO of SkyBridge Capital, said in an interview with CNBC, "Cryptocurrency investors should remain calm and continue long-term investments," adding, "Investors should take a sedative and hold Bitcoin long-term, and Ethereum, Algorand, and others will be favorable for investment from a long-term perspective."