Bitcoin continues to rally amid expectations of interest rate cuts.

Concerns over the Fed's independence have fueled a surge in demand for safe assets.
Bitcoin price continues to strengthen at around 156 million won.
Story (IP) records double-digit growth

Bitcoin (BTC) showed a strong consolidation trend on the 5th, fueled by expectations of an interest rate cut. While Bitcoin held steady at around 156 million won, slightly exceeding its previous day's price, global policy risks and the burden of short-term overheating limited its gains. However, the inflow of funds into exchange-traded funds (ETFs) and the gold price rally are supporting medium- to long-term demand.

International gold prices continued their upward trend, hitting new highs every day. On the 4th (local time), Goldman Sachs forecast in a report that if the Federal Reserve's independence is undermined, gold prices could approach $5,000 per ounce. Under a base case scenario, they projected gold prices would surpass $4,000 by mid-next year. Amidst a weak dollar and inflation concerns, analysts believe investors are increasingly choosing gold over Treasury bonds. Experts believe that gold is at the heart of the growing preference for safe-haven assets, given its status as a store of value independent of institutional trust.

The altcoin market showed mixed performance. Ethereum (ETH) rose slightly to 6,076,000 won, while Solana (SOL) remained weakly consolidating around 287,000 won. XRP and Dogecoin (DOGE) also showed limited movement. In contrast, Story (IP) surged more than 11%, posting a distinct bullish performance.

◇ Bitcoin = As of 4:00 PM on the 5th, Bitcoin was trading at 156.77 million won (approximately $1,567,700 USD) on Upbit. Bitcoin's market share (dominance) stood at 56.75%. According to on-chain analytics platform Sigbit, the long/short ratios in the Bitcoin futures market were 61.04% and 38.96%, respectively.

Experts predicted that "if Bitcoin finds support in the $150,000 range, a mid-term uptrend could resume."

◇ Rising Coin = As of 4 PM on this day, the cryptocurrency that recorded a larger increase than the previous trading day was Story (IP), which rose by approximately 11%.

IP is a blockchain project based on creator rights and content distribution, and the recent expansion of listings on domestic and international exchanges has been a positive factor.

◇ Fear-Greed Index = The digital asset fear-greed index provided by Alternative has reached 48 points, reaching the "Neutral" level. The neutral level represents a period of psychological resistance and support among market participants, and crucial decisions regarding future price movements are made.

The cryptocurrency Relative Strength Index (RSI), provided by Sigbit, recorded a "neutral" reading of 60.1. The RSI measures the relative strength of upward and downward pressure on a specific asset's price, indicating overbought and oversold levels.

Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr