Analysis: BTC's upward momentum is hindered, as Japan's inflation data and the Iran war trigger market risk-averse sentiment

Deep Tide TechFlow News, April 24th, according to CoinDesk reports, the overall crypto market weakened on Friday, with BTC hovering around $77,800, and the upward trend that started from $65,000 on Wednesday clearly slowing down; ETH is reported at $2,300, down about 0.8% in 24 hours, performing weaker than BTC. The market pressure mainly comes from two aspects: first, Japan’s March corporate service price index rose 3.1% year-on-year, exceeding expectations, with core inflation also accelerating, and the market anticipates that the Bank of Japan may signal a rate hike at the next policy meeting, while a strengthening yen could trigger carry trades in global risk assets to close; second, ongoing disturbances in the Strait of Hormuz caused by the Iran conflict have affected oil transportation, with WTI crude oil futures rising over 40% since the outbreak of the war to $96 per barrel, and the U.S. Pentagon warns that clearing water mines could take at least six months, suggesting global inflation pressures may persist, further reducing the Federal Reserve’s room to cut interest rates.