2023-11-22 07:49:30
November 22, 2023 / 16:45
market
author Yuya Hasegawa BitBank Market Analyst
After graduating from a British graduate school, he worked as an analyst for the FinTech industry and virtual currency market at a venture company made up of people from financial institutions. Since 2019, he has been a market analyst at BitBank Co., Ltd. He has provided comments to major domestic financial media and has contributed to many overseas media.
Bitcoin (BTC) vs. yen was weak on the 21st, recording the second largest rate of decline in the past two months. While some altcoins have been in decline due to the US Securities and Exchange Commission filing a lawsuit against Kraken, BTC in Tokyo time has fallen sharply, dropping from 5.57 million yen to around 5.52 million yen. At the beginning of US time, BTC further accelerated its decline and fell below 5.4 million yen, but the decline was temporarily reversed due to the buying trend. However, after that, Binance admitted to charges such as violating anti-money laundering measures in the United States, entered into a plea bargain with the U.S. Department of Justice, paid a fine of approximately 630 billion yen, and raised the possibility of CEO CZ resigning. The asset (virtual currency) market fell across the board, and BTC plummeted to around 5.3 million yen.
Figure 1: BTC vs. Yen from the previous day (left, 1-minute chart) and BTC vs. JPY (right, daily chart) for the past 3 months Source: Created from bitbank.cc
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