[Bitcoin Now] UK Base Rate Hike... Bitcoin Falls Below 60 Million Won

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] Bitcoin, the number one cryptocurrency by market capitalization, is showing a slight decline in both domestic and international markets. This is analyzed to be influenced by the Bank of England (BOE)'s interest rate hike news amid the accelerated tightening schedules of major central banks.

According to Upbit, a domestic cryptocurrency exchange, at 2:07 PM on the 9th, Bitcoin is priced at 59,665,000 KRW, down 0.25% (152,000 KRW) compared to the previous trading day. The daily trading volume reaches 504.3 billion KRW.

Bitcoin briefly surpassed the 60 million KRW mark during the day as uncertainty over monetary policy was resolved following the December FOMC (Federal Open Market Committee) meeting. However, the price is analyzed to have fallen following the BOE's interest rate hike announcement. The BOE surprised the market by raising the benchmark interest rate by 0.15 percentage points for the first time in three years. This decision, differing from market expectations, is interpreted as a measure to tame inflation.

Bitcoin is also showing a downward trend on another exchange, Bithumb. At the same time, Bitcoin is priced at 59,352,000 KRW, down 1.44% (868,000 KRW) compared to the previous trading day. Other coins are also declining: Ethereum (-2.38%), Ripple (-1.46%), Tron (-2.04%), EOS (-2.33%), Cardano (-3.47%), Litecoin (-2.83%), Cardano (-3.53%), Bitcoin Cash (-2.16%) have all fallen.

Internationally, Bitcoin and major coins are also on a downward trend. According to CoinMarketCap, a cryptocurrency market data company, Bitcoin fell 1.63%, and Ethereum also dropped 1.19%. Cardano (-3.03%), Polkadot (-4.84%), and Dogecoin (-2.18%) are also declining.

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