Bitcoin Surges to Three-Month High as Interest Rate Fears Ease

The virtual asset market has seen significant gains as Bitcoin reached its highest price in over three months, reaching $82,200 on the 4th. This surge is attributed to expectations of a freeze in U.S. interest rates, which have eased concerns over further rate hikes by the Federal Reserve. Analysts believe that instability in the U.S. fiscal and government bond markets, as well as concerns over the dilution of the dollar's value, are driving investors towards alternative assets such as gold and Bitcoin.

Virtual asset-related stocks listed on the U.S. stock market have also surged, with Street's stock price increasing by 17.6% and Coinbase's by 10.1%. Robinhood shares jumped 16.6%, partly due to Morgan Stanley's investment opinion being raised to 'overweight' with a target price of $150. Other virtual asset-related stocks such as Circle Internet, Bitcoin Digital, and Kanaan have also seen significant gains.

Gold prices are also rising, with U.S. gold futures for December closing at $4539.90 per troy ounce, up 2.8% from the previous session. The surge in gold and Bitcoin is attributed to concerns over long-term interest rate instability and the potential dilution of the dollar's value.

Park Sang-hyun, a researcher at iM Securities, believes that 'fundamentally, the two main reasons for the surge in long-term government bond rates in major countries are large borrowing risks and inflation.' He notes that there is structural upward pressure on long-term interest rates due to increased demand for funds.

The Trump administration's pro-virtual asset policy has also provided additional momentum to Bitcoin. U.S. President Donald Trump recently urged Congress to pass the Clarity Act, which clarifies the virtual asset regulation system.