[Lunch Briefing] BTC Breaks $70K

Major cryptocurrencies are on the rise.

As of 1:05 pm on the 29th, based on Bithumb, Bitcoin (BTC) rose 2.65% from the previous day to 98,634,000 won. Ethereum (ETH) rose 3.01% to 3,631,000 won, Binance Coin (BNB) rose 1.87% to 843,000 won, Solana (SOL) rose 3.60% to 253,000 won, and Ripple (XRP) rose 0.97% to 729 won.



The international market is also on the rise.

At the same time, on CoinMarketCap, BTC recorded $70,905.10, up 4.81% from the previous day. ETH rose 5.41% to $2,610.56, BNB rose 3.27% to $605.44, SOL rose 3.43% to $181.17, and XRP rose 2.13% to $0.5236.

The total market capitalization of cryptocurrencies increased by 3% from the previous day to about $2.4 trillion (about 3,316.4521 trillion won). The Crypto Fear and Greed Index of cryptocurrency data company Alternative.me remained at 72 points, the same as the previous day, indicating 'Greed'.

BTC price has broken through $70,000 for the first time in 4 months.

According to CoinTelegraph on the 28th (local time), BTC price reached $70,124 around 6 pm. This is about 5% lower than the all-time high of $73,700 recorded in early March this year.

Since September, BTC price has rebounded after plummeting to $53,000, crossing the $70,000 mark. The interest rate cuts by major central banks, the massive inflow of funds into spot exchange-traded funds (ETFs), and the increased likelihood of Donald Trump's Republican presidential nomination are analyzed as the reasons for the rise in BTC prices.

BTC price has risen about 65% compared to the beginning of this year.

Reporter Hae-yeon Kang

haeyeon41@rni.kr