[Bitcoin Now] Steady at 53 Million Won Range... Trading Volume Increases

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The price of Bitcoin, the leading cryptocurrency, is showing a stable trend around the 53 million KRW mark.

According to the domestic cryptocurrency exchange Upbit, as of 3:31 PM on the 9th, the price of Bitcoin is trading at 53.23 million KRW, down 0.78% (419,000 KRW) from the previous day.

The Bitcoin price has maintained the 53 million KRW range since two days ago. As of 9 AM on the 7th of this month, the Bitcoin price was 53.51 million KRW, and on the 8th, it recorded 53.65 million KRW. Although the price slightly declined on this day, it is still more than 15% higher compared to the 46 million KRW level recorded only until the 4th.

Despite the price drop, trading volume showed an increasing trend. According to the cryptocurrency market data site CoinMarketCap, as of 3:13 PM on this day, Bitcoin trading volume was 38.44496335 trillion KRW, up 8.94% compared to the previous day.

The Bitcoin price is analyzed to have recovered as risk asset preference revived, following a rebound in the US stock market centered on technology stocks.

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