TechFlow News, April 24: According to CoinDesk, the cryptocurrency market weakened overall on Friday. Bitcoin (BTC) hovered near $77,800, with the upward momentum—initiated from $65,000 on Wednesday—clearly slowing. Ethereum (ETH) traded at $2,300, down approximately 0.8% over the past 24 hours, underperforming BTC. Market pressure stems primarily from two sources: First, Japan’s March Corporate Services Price Index rose 3.1% year-on-year, exceeding expectations; core inflation also accelerated, prompting market speculation that the Bank of Japan may signal an interest rate hike at its next policy meeting. A strengthening yen could trigger unwinding of global carry trades in risk assets. Second, the ongoing Iran conflict continues disrupting oil shipments through the Strait of Hormuz. Since the outbreak of hostilities, WTI crude oil futures have surged over 40% to $96 per barrel. The U.S. Department of Defense warned that clearing naval mines could take at least six months, potentially sustaining global inflationary pressures and further constraining the Federal Reserve’s room to cut interest rates.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / support@techflowpost.com ICP License: 琼ICP备2022009338号
