[Lunch Briefing] Analysis of "BTC Short-Term Highs" Ahead of the US Presidential Election

Major virtual assets are on the rise.

As of 12:56 pm on the 24th, based on Bithumb, Bitcoin (BTC) rose 0.98% from the previous day to 928,380,000 won. Ethereum (ETH) fell 0.87% to 35,160,000 won, Binance Coin (BNB) rose 1.12% to 815,000 won, Solana (SOL) rose 3.84% to 240,800 won, and Ripple (XRP) rose 1.41% to 731 won.



The international market is mixed.

At the same time, on CoinMarketCap, BTC recorded $67,202.55, up 0.26% from the previous day. ETH fell 2.53% to $2,545.97, BNB rose 0.04% to $590.28, SOL rose 5.62% to $174.6, and XRP fell 0.39% to $0.5285.

The total market capitalization of virtual assets is the same as the previous day, about $2.31 trillion (about 3,186.216 trillion won). The Crypto Fear and Greed Index of alternative.me, a virtual asset data company, fell 2 points from the previous day to 69 points, indicating 'greed'.

It is analyzed that Bitcoin (BTC) reached a peak before the US presidential election.

On the 23rd (local time), The Block analyzed that BTC prices have reached a short-term peak. Currently, 98% of BTC wallets are making a profit. When the percentage of profitable wallets increases rapidly, selling pressure occurs, and the price of virtual assets tends to fall. Experts said, "The market has temporarily peaked before the US presidential election."

The ETF market has turned to net outflows. On the 22nd, the net asset value of the BTC spot ETF recorded a net outflow of $79.09 million. Previously, the net inflow of the BTC spot ETF had increased for 7 consecutive days, exceeding $210, but the trend has been broken.

Reporter Hae-yeon Kang

haeyeon41@rni.kr