[Bitcoin Now] Bitcoin Sideways... Hesitating at the 73 Million Won Level

Ethereum Also Pauses at Around 5.4 Million Won

[Asia Economy Reporter Minwoo Lee] The price of Bitcoin, the representative cryptocurrency, has remained in the mid-70 million KRW range since the end of last month. After a rally following the news of the Bitcoin Exchange-Traded Fund (ETF) listing last month, profit-taking selling appears to be emerging.

According to the domestic cryptocurrency exchange Upbit, as of 10:11 AM on the 5th, the price of Bitcoin recorded 73.71 million KRW, down 0.12% from the previous day. Since falling to 70.18 million KRW on the 27th of last month, it has maintained a range between 70 million and 75 million KRW for about two weeks.

Ethereum, which had recently continued its rally, also recorded 5.42 million KRW at the same time, down 0.61% from the previous day, showing sideways movement. Although it rose more than 40% last month, it has remained in the 5.4 million KRW range since the 3rd.

After the Bitcoin ETF was listed on the New York Stock Exchange last month and reached an all-time high of 81.75 million KRW, profit-taking selling due to the short-term surge has caused a slight pause. However, the declaration of support for the cryptocurrency industry by Eric Adams, the elected mayor of New York City, and investment opinions from JP Morgan have acted as positive factors, limiting the decline.

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