Bitcoin is maintaining the $105,000 range.
According to CoinMarketCap, a global cryptocurrency market tracking site, Bitcoin is being traded at $105,610 as of 8 a.m. on the 20th. This is an increase of 0.3% compared to the previous day.
Ethereum is down 2.88% to $2,500, Ripple (XRP) has fallen 0.75% to $2.37, and Solana is recorded at $165.64, down 1.9%.
Bitcoin, identified as a '脱(脫)달러' asset, is seen as a substitute for safe-haven assets alongside gold or as a method for hedging against inflation. Investor sentiment is also showing signs of recovery. CryptoQuant noted on the 9th through X that 'investor sentiment towards Bitcoin has reversed,' stating that the Bitcoin Bull Score surged from 20 to 80. A score above 60 is interpreted as a bullish signal.
Meanwhile, the global three major credit rating agencies Moody's have downgraded the United States' credit rating from the highest level of 'Aaa' to 'Aa1'. This marks the third instance in which the major credit rating agencies have downgraded the U.S. credit rating, following Standard & Poor's (S&P) in 2011 and Fitch in 2023. As a result, the U.S. has lost its top credit rating status from all three global rating agencies.