Bitcoin (BTC) soaring in price (Image: ChatGPT)
The bitcoin (BTC) operates at a slight increase this Saturday (11), maintaining the level of US$ 64 thousand, with a gain of 0.60% in the last 24 hours.
The global market for cryptocurrencies advances today still with an eye on the billion-dollar debut of SK Hynixthe South Korean chipmaker and competitor of Nvidia (NVDA)on the United States stock exchange. On the first day of trading on Nasdaq, SK Hynix shares jumped 13%, closing at US$168.01.
The shares are trading under the ticker symbol SKHYV and will trade under the ticker symbol SKHY from Tuesday. The shares jumped more than 14% during the session, reaching a price of US$ 170.
In the traditional market, Wall Street indices closed without a single direction for the week: the S&P 500 and Nasdaq advanced around 1%, despite the volatility of technology shares, while the Dow Jones fell less than 1%.
See how the top ten cryptocurrencies in the world are performing today:
| Cryptocurrency | Price | 24h | 7d | YTD |
|---|---|---|---|---|
| Bitcoin (BTC) | US$64,320.14 | +0.60% | +2.61% | -26.50% |
| Ethereum (ETH) | $1,812.16 | +1.51% | +2.19% | -38.92% |
| Tether (USDT) | $0.9991 | +0.01% | 0.00% | +0.07% |
| BNB (BNB) | US$581.34 | +1.62% | +1.26% | -32.66% |
| USDC (USDC) | $0.9998 | +0.01% | 0.00% | +0.01% |
| XRP (XRP) | $1.11 | +1.18% | -4.97% | -39.44% |
| Solana (SUN) | US$78.48 | +0.72% | -3.97% | -36.95% |
| TRON (TRX) | $0.3313 | +0.21% | +1.87% | +16.57% |
| Hyperliquid (HYPE) | US$67.44 | -0.14% | -4.41% | +165.22% |
| Dogecoin (DOGE) | $0.07522 | +1.87% | -3.17% | -35.86% |
Bitcoin (BTC) and the technology sector
It is worth remembering that investors view the cryptocurrency market in the same way as they view the technology sector. Therefore, even without a direct correlation, the optimism of one tends to affect the other.
The company has benefited from the momentum of artificial intelligence (AI) and demand for cutting-edge chips and semiconductors. With this, the South Korean company raised US$26.5 billion in its share offering in the United States, with the shares priced at US$149 each.
SK Hynix’s debut is seen as an important test to gauge investor confidence in the continuity of the boom of artificial intelligence, at a time when shares in the semiconductor sector are going through a period of correction after the strong appreciation of recent months.
Cryptocurrency week
The last few days have been marked by a combination of optimism regarding the macroeconomic scenario in the United States, volatility generated by geopolitical tensions between the USA and Iran and a subsequent recovery in prices.
The week began with bitcoin recovering the US$62,000 region after the release of the American payroll last Friday. The jobs report came in weaker than expected, prompting investors to recalibrate expectations for US monetary policy. The possibility of less pressured interest rates favored risk assets, including cryptocurrencies.
The positive movement gained strength and bitcoin advanced to the US$63,000 range. The market continued to react to the relative improvement in the macroeconomic environment and the absence of relevant negative news.
At the same time, investors began monitoring a change in communication from the Federal Reserve, which indicated less dependence on the so-called forward guidancesignaling the future of US monetary policy.
Subsequently, the escalation of the conflict between the United States and Iran, following new attacks and threats involving the Strait of Hormuz, caused strong risk aversion in global markets.
Fear of impacts on international trade and oil prices led investors to reduce exposure to riskier assets. In this context, bitcoin fell back to the US$62,000 region.
Source: www.moneytimes.com.br
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