Bitcoin prices fell to $96,000 (about 139 million won) during the session due to the Federal Reserve's negative stance on strategic reserves.
As of 8:50 am on the 20th, Bitcoin recorded 148.18 million won on Upbit, a domestic virtual asset exchange. It was traded at 148.15 million won on Bithumb. On CoinMarketCap, a virtual asset market relay site, it was at $97,851. During the day, it fell to the $96,000 range.
At the same time, Ethereum, the second largest market cap, recorded 5.2 million won on Upbit and 5.2 million won on Bithumb. It was traded at $3,439 on CoinMarketCap.
The price of Bitcoin, which had been breaking new records for three consecutive days until the previous day, rose to $108,358 (about 156.9 million won). However, the rise was halted when Federal Reserve Chairman Jerome Powell said, “We cannot own Bitcoin” regarding the strategic reserve of Bitcoin.
During the presidential campaign, US President-elect Donald Trump pledged to strategically reserve Bitcoin, which had driven up Bitcoin prices. The Fed’s application of the brakes has poured cold water on the upward trend. Chairman Powell has stated firmly that “the Fed has no plans to pursue a change in the law.”
