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　　local time on Tuesday, the Bitcoin price briefly stood at $ 20,000, rushed to a new high in more than a week, but the upward pressure is still under pressure. Bitcoin prices eventually fell as the U.S. stock market gradually entered a bear market. According to data provided by Coin Metrics, the price of Bitcoin subsequently fell by less than 1% to $19,078.21, and Ether also fell by less than 1%.

　　The cryptocurrency market rose to a high in November last year, and then the entire market evaporated about $2 trillion. Since mid-June this year, Bitcoin prices have been between $18,000-$25,000.

　　In order to combat inflation, the United States keeps raising interest rates. Bankruptcies and insolvency hit the crypto industry, which are the main reasons for the decline in the cryptocurrency market. Cryptocurrency investors have been keeping an eye on monetary policy as the digital currency is closely linked to the U.S. stock market. High interest rates have put enormous pressure on the S&P 500 and Nasdaq, and high-risk assets (including cryptocurrencies) are inevitably affected.

　　Interestingly, even though the S&P 500 fell to its lowest point since 2022 and U.S. stocks fell, the price of Bitcoin began to rebound on Monday. Does this imply that the Bitcoin market is not as closely tied to the stock market as it might seem?

　　Meanwhile, investors are eyeing the U.S. dollar index, which is up 18% this year. The price of Bitcoin is inverse to the US dollar, the stronger the US dollar index, the weaker the Bitcoin. Some people think that now that the US dollar index is close to the highest level, Bitcoin may have bottomed out, which may also be a big reason for the rebound in Bitcoin price.