Americas Crypto Market Update: Bitcoin Experiences Volatility Amid Risk Asset Rally

James Van Straten reports (all times ET unless otherwise stated) The past 24 hours have been exceptionally turbulent in the cryptocurrency sector, marked by significant fluctuations in bitcoin's price, which seesawed by 2% to 3% multiple times within minutes on Thursday. Nonetheless, it maintained its position above the $100,000 psychological threshold and is currently valued around $105,000. The ongoing rhetoric from President Trump continues to exert downward pressure on the US dollar, typically leading to an uptick in risk assets, including cryptocurrencies. The DXY index, which measures the US currency against a basket of major trading partners, has plummeted to its lowest level since December 17, potentially giving risk-on assets a significant boost. Additionally, US bond yields and WTI crude oil prices are also declining, with oil dipping below $75 per barrel, a two-week low. In other global news, the Bank of Japan (BoJ) fulfilled its promise by implementing another interest rate hike, bringing the policy rate to 0.50%, the highest in over 16 years. This move followed a remarkably high inflation reading, with a year-over-year headline inflation rate of 3.6%, the fastest pace since January 2023. The looming question is whether this will trigger a second round of the yen carry trade unwind that occurred in August last year. Only time will tell. Remain vigilant! Key Events to Watch Upcoming Token Events Scheduled Conferences Token Talk by Shaurya Malwa Derivatives Positioning Market Trends: Bitcoin Statistics: Technical Analysis Crypto-Related Equities ETF Investment Flows Spot Bitcoin ETFs: Spot Ethereum ETFs Source: Farside Investors Overnight Market Flows Chart of the Day While You Were Sleeping Ether Insights