[Asia Economy Reporter Jang Hyowon] Bitcoin, which experienced a sharp decline on the 23rd, has recovered and re-entered the 60 million KRW range.


As of 9:15 AM on the 25th, the price of Bitcoin on the cryptocurrency exchange Bithumb is trading around 61 million KRW, up 3% from the previous day. Similar price ranges are observed on Upbit and Coinone as well.


On the 23rd, Bitcoin fell to the mid-55 million KRW range during the day, dropping more than 31% from its peak of around 80 million KRW. The market attributes the decline to forced liquidations of overseas leveraged investment accounts.

[Image source=Yonhap News]

[Image source=Yonhap News]

View original image

As the domestic Bitcoin price shows an upward trend, the price gap with overseas exchanges is gradually widening. At the same time, the price of Bitcoin on the global cryptocurrency exchange Binance is $50,140 (approximately 56 million KRW), showing a difference of over 9% compared to the domestic price.


Hot Picks Today

"Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ① "Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①

Meanwhile, other cryptocurrencies such as Ethereum, Ripple, EOS, Bitcoin Cash, Luna, and Steem are also recording simultaneous gains.


한글 기사 보기
This content was produced with the assistance of AI translation services.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.

Today’s Briefing