The price of BTC has surpassed 100 million won for the first time in 7 months.
At 9 am on the 30th, BTC was traded at 100.85 million won, up 3.54% from the previous day. It is the first time the BTC price has exceeded 100 million won since last March, 7 months ago. On the same day, the price also reached $73,562 on CoinMarketCap, approaching the all-time high of $73,798.
Related Articles
The BTC price had been adjusted down to the 70 million won range until September. However, after the Federal Reserve (Fed) implemented a 0.5 percentage point 'big cut' in the benchmark interest rate, liquidity increased, and the price recovered to 80 million won.
This price increase is interpreted as a result of increased expectations for the US presidential election. Recently, the probability of former US President Donald Trump's election victory has exceeded 60% on the virtual asset-based betting site Polymarket, widening the gap with Vice President Kamala Harris. Former President Trump has shown a friendly attitude towards virtual assets, saying he would make the US the 'BTC capital'.
The inflow of a large amount of funds into BTC spot exchange-traded funds (ETFs) also had an impact. According to CoinTelegraph, more than $3.8 billion has flowed into BTC spot ETFs in the last 2 weeks. The total assets under management of BTC spot ETFs have reached nearly $68.5 billion. In addition, the recent approval of BTC spot ETF options by the US Securities and Exchange Commission (SEC) has increased expectations for further price increases.
- Choi Jae-heon, Reporter
- chsn12@decenter.kr
< Copyright holder ⓒ Decenter, Unauthorized reproduction and redistribution prohibited >
