[Lunch Briefing] BTC recovery… “Easing conflict in the Middle East, impact of worsening U.S. finances”

Domestic major virtual assets are showing mixed results.

At 1:20 pm on the 23rd, domestic Bitcoin (BTC) is trading at 96.15 million won on Bithumb, up 0.20% from the previous day. Ethereum (ETH) fell 0.43% to 4.607 million won. Tether (USDT) was trading at 1,454 won, down 0.43%, and Binance Coin (BNB) was trading at 873,500 won, up 0.98%. Solana (SOL) rose 1.39% to 226,100 won.



The international market is on the rise.

At the same time, on CoinMarketCap, BTC recorded $66,463.01, up 1.35% from the previous day. ETH was trading at $3192.10, down 0.03%. USDT is at $1.00, up 0.05% from the previous day, and BNB is at $604.91, up 1.17%. SOL was trading at $156.08, down 0.25%.

The total market capitalization of virtual assets is $2.42 trillion (approximately KRW 3343.956 trillion), an increase of $1.26 trillion (approximately KRW 1,741.68 trillion) compared to the same period last year. The fear and greed index provided by virtual asset data company Alternative.me is in a 'greed' state at 65 points, up 3 points from the previous day.

While the price of Bitcoin (BTC) has recovered to the $66,000 level (approximately 90.86 million won), analysis suggests that this is due to the weakening dollar due to easing tensions in the Middle East and worsening U.S. finances.

According to Cointelegraph on the 22nd (local time), the easing of political tensions in the Middle East was pointed out as a factor in the BTC price rebound. The analysis is that the tension over an all-out war between Israel and Iran has eased and the two-mindedness has recovered. Previously, BTC fell to $59,630 (about 82.1 million won), the lowest level in seven weeks, on the 19th as political tensions between Iran and Israel increased.

Concerns about a weakening dollar due to the worsening financial situation in the United States also acted as a positive factor for BTC. On the 20th, the U.S. House of Representatives passed a foreign aid bill providing $95 billion (about 130.8055 trillion won) in support to allies. Accordingly, concerns have been raised about worsening national debt, with the International Monetary Fund (IMF) warning that the U.S. dollar may weaken due to the increasing cost of financing public debt.

Reporter Park Ji-hyun

claris@rni.kr