Bitcoin, which had been on a downward trend, brought gifts on Christmas with the 'Santa Rally'.
As of 9:00 AM on the 26th, Bitcoin recorded 148.75 million won on Upbit, a domestic virtual asset exchange. It was traded at 148.77 million won on Bithumb. On CoinMarketCap, a virtual asset market relay site, it was recorded at $99,785.
At the same time, Ethereum, the second largest market cap, recorded 5.22 million won on Upbit and 5.23 million won on Bithumb. It was traded at $3,506 on CoinMarketCap.
The price of Bitcoin, which surpassed $108,000 for the first time ever, shrank the risky asset market, including virtual assets, on the 18th (local time) due to the possibility of the Federal Reserve (Fed) adjusting the pace of its interest rate cuts. In particular, the price fell to $92,000 after Federal Reserve Chairman Jerome Powell said, “You can’t own Bitcoin,” regarding the Trump administration’s pledge to make Bitcoin a strategic reserve asset during its second term.
This Bitcoin rebound is interpreted as a new buying trend entering the market. According to Bloomberg, MicroStrategy, an American software company that has been a “whale” in the market for six consecutive weeks, purchased an additional $561 million worth of Bitcoin at a price close to last week’s highest price.
