Bitcoin is trading sideways in the 82 million won range amid Middle East tensions between Iran and Israel.
As of 10:50 am on the 4th, Bitcoin was recorded at 82.7 million won on Upbit, a domestic virtual asset exchange, up 0.33% from the previous day. On Bithumb, it is being traded at 82.68 million won, up 1.16% from the previous day. On CoinMarketCap, a virtual asset market relay site, it was recorded at $61,151, up 0.23% from 24 hours ago.
At the same time, Ethereum surged 0.78% from the previous day to 3.21 million won on Upbit, and 2.03% from 24 hours ago to 3.21 million won on Bithumb. On CoinMarketCap, it was trading at $2,376, down 0.24% from the previous day.
Bitcoin prices rose for a while last month after the U.S. Federal Reserve cut its benchmark interest rate by 0.5 percentage points at once, recovering to the 87 million won level, but then turned bearish again as conflicts between Israel and surrounding regions intensified.
In the virtual asset market, there is an outlook that the conflict between Israel and Iran will likely be prolonged, and Bitcoin prices will show high volatility for the time being. Israel has officially announced its intention to retaliate after Iran's missile attack.
U.S. President Joe Biden also said on the 3rd (local time) regarding speculation that Israel could attack Iranian oil facilities, “We are discussing that.”
