Bitcoin (BTC), which once fell below $90,000 in the wake of the US airstrikes in Venezuela, is now stabilizing, settling around $91,000. Cryptocurrency investor sentiment, which had been in a state of "extreme fear" since October of last year, has returned to "neutral" after three months.
According to CoinMarketCap, a global cryptocurrency market monitoring site, as of 8:00 AM on the 5th, BTC was trading at $91,168.51, up 0.68% from the previous 24 hours. Ethereum (ETH) rose 0.51% to $3,136.81. XRP rose 3.49% to $2.082, and Binance Coin (BNB) rose 1.57% to $892.58.
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The domestic market is also on the rise. On Bithumb, a domestic cryptocurrency exchange, BTC is trading at 132,025,000 won, up 0.8% from the previous 24 hours. ETH is up 0.53% at 4,542,000 won, and XRP is up 3.5% at 3,016 won.
Bitcoin, which briefly fell below $90,000 following the US airstrikes on Venezuela on the 3rd (local time), broke through the $91,000 mark in just one day and is showing a solid trend. Cryptocurrency investor sentiment is also showing signs of improvement. CoinMarketCap's Fear and Greed Index rose two points from the previous day to 40, entering the "neutral" zone for the first time in three months since October of last year. A reading closer to 0 indicates a weakened investor sentiment, while a reading closer to 100 indicates a market overheating.
Cryptocurrency investor sentiment has deteriorated sharply since October of last year, leading to a state of "extreme fear." The collapse of the bull market, triggered by the largest liquidation in history, directly contributed to the decline in investor sentiment.
Cointelegraph, a cryptocurrency media outlet, analyzed that while “virtual currency investment sentiment has shown some improvement this year,” “heightened geopolitical tensions and sluggish market participation by individual investors could act as factors weighing on the market in the new year.”
- Reporter Kim Jeong-woo
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