Q: The Bitcoin market is affected by various factors and has seen frequent fluctuations recently. First, please give us a look back at the market in June.
Kasou NISHI: The Bitcoin market experienced a highly sensitive month in June, fluctuating between $100,000 and $110,000. This was driven by a complex interplay of factors, including rising geopolitical risk, expectations regarding U.S. cryptocurrency policy, and a sensitive reaction to macroeconomic indicators.
As of early June, Bitcoin was hovering around $108,000, but tensions in the Middle East escalated toward mid-June. In particular, rising military tensions between Iran and Israel became a focus of attention, leading to risk-averse flows into Bitcoin, which is increasingly playing a role as "digital gold." At one point, the price even surpassed $110,000.
Subsequently, in late June, positive expectations regarding U.S. cryptocurrency policy provided support. Specifically, President Trump's supportive comments about cryptocurrencies and a cryptocurrency tax cut bill introduced by Senator Cynthia Lummis and others were seen as factors that improved market sentiment. As a result, Bitcoin resumed its upward trend, and at the end of the month it even recovered to the $110,000 range for the fourth time this year.
Furthermore, in the latter half of June, when geopolitical risks had receded to a certain extent, Bitcoin's nature as a "risk asset" linked to the rise in the US stock market became more apparent.
