According to Woofun AI, the New York stock market rose broadly on strong expectations that Anthropic will soon conduct an initial public offering (IPO), while the price of Bitcoin came under pressure and dropped below $80,000.
A rebound in investment sentiment toward the artificial intelligence sector and a decline in international oil prices together formed the twin engines driving the stock market higher, but given that the Federal Reserve's Federal Open Market Committee (FOMC) is about to announce its interest rate decision, the digital asset market remained weak.
As of 12:30 p.m. Eastern Time on the 26th, the Dow Jones Industrial Average rose 140.61 points, or 0.27%, to 52,355.80; the S&P 500 gained 57.35 points, or 0.75%, to 7,681.03; the Nasdaq Composite was the standout performer, rising 261.19 points, or 1.01%, to 26,216.50.
The Russell 2000 ETF (IWM.US) also recorded a gain of 2.14 points, or 0.78%, to 277.89. As Anthropic advances its listing plan on the Nasdaq, related artificial intelligence concept stocks saw a wave of buying. The company's revenue in the first half of the year reached as high as $16.29 billion, a sharp year-on-year increase of 1,304%.
News that Meta Platforms, Inc. (META.US) plans to raise $95 billion for artificial intelligence research and development further boosted market expectations. NVIDIA (NVDA.US) shares rose 2.6%, Broadcom (AVGO.US) gained 2.2%, Micron Technology (MU.US) climbed 2%, and the semiconductor ETF SOXX rose more than 3%.
Brent crude oil prices fell 1.8% to $114.57, while WTI crude oil prices dropped more than 2% to $100.60, and these factors also provided support for the stock market. Data compiled by Woofun AI showed that the price of Bitcoin is now $79,699, while other cryptocurrencies moved in mixed directions but with significantly increased trading volume.
The market value of all digital assets stood at $2.77 trillion, up 0.23% from the previous day, although the CMC20 index fell 0.82%. The price of Bitcoin dropped 0.98% from the previous day to $79,699.37. The price of Ethereum fell 1.48% to $2,308.68; the price of Ripple dropped 0.82% to $1.28.
The price of Binance Coin fell 0.19% to $739.46; the price of SOL dropped 0.42% to $100.98. By contrast, the price of ZEC rose 1.32% to $1,226.66; the price of HYPE rose 1.08% to $77.82. The prices of TRON and Dogecoin rose 0.37% and 0.11%, respectively, while Monero fell 2.54%.
Bitcoin currently accounts for 60.1% of all digital currencies, and the "altcoin season" index stands at 53. The value of open contracts in the derivatives market was $365.3 billion, up 9.26% year-on-year; 24-hour trading volume was $728.53 billion, an increase of 55.77%. Earlier, when the price of Bitcoin fell to $79,145, about $150 million in long positions were liquidated within two hours.
Experts believe the market currently needs to watch the $80,000 support level. Because the Federal Reserve's interest rate decision and earnings reports from large technology companies are about to be announced, there are many uncertainties in the market, and these factors are constraining a rebound in digital assets. The interest rate futures market expects the Federal Reserve will most likely keep the current interest rate level of 3.75% to 4%, with a probability of about 90%.
Digital asset analyst Ted Pillows pointed out on the X platform that Bitcoin has posted weekly declines for three consecutive weeks, and if it cannot recover to a weekly closing price level of $80,000, the risk of a further price decline will increase. Benjamin Cowen, founder of InToTheCryptoVerse, believes that Bitcoin's earlier rebound to $87,000 was only temporary, and further weakness remains possible in the future. The market will next focus on the FOMC decision on the 28th and the PCE (personal consumption expenditures) inflation data to be released on the 29th.
Whether Bitcoin can return to the $80,000 mark and whether it can absorb selling pressure near $81,000 are regarded as the key to a short-term rebound. The "Fear and Greed Index," which reflects investor sentiment, stands at 45, at a "neutral" level. From a structural perspective, the linkage between traditional finance and the crypto market is weakening, and the favorable fundamentals of the AI industry have not effectively transmitted to the digital asset segment among risk assets.
Although US stocks strengthened because of the capital operations of Anthropic and Meta Platforms, Inc. (META.US), the cryptocurrency market remains constrained by a stalemate in expectations for macro liquidity. As the FOMC decision on the 28th approaches, the battle in the market around the $80,000 mark will become increasingly intense, and if selling pressure cannot be broken through, downside risk may be further released.
Comments