[Bitcoin Now] Rising Amid Ukraine Situation Easing... Surge in Trading Volume

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] As tensions in the Ukraine crisis ease and the U.S. Nasdaq index, centered on technology stocks, rises, the price of the leading cryptocurrency Bitcoin is on an upward trend.

According to the cryptocurrency market tracking site CoinMarketCap, as of 9:40 a.m. on the 15th, Bitcoin was trading at $44,264 (approximately 52.96 million KRW), up 4.08% from the previous day. Bitcoin trading volume has also increased, with a 24-hour trading volume of $22,891,094,465 (approximately 27.3846 trillion KRW), up 10.5% compared to the previous day.

The rise in Bitcoin prices appears to be due to the recovery of investor sentiment following news on the 15th (local time) that Russia will withdraw some of its troops deployed near the Ukraine border. Russian President Vladimir Putin, after a meeting with German Chancellor Olaf Scholz in Moscow, stated, "Do we want war? Of course not."

Following this news, the Nasdaq index closed up 2.53%. Recently, Bitcoin has shown a correlation with technology stocks.

Upbit operator Dunamu's Digital Asset Fear & Greed Index recorded 50.37, indicating a 'neutral' stage. Compared to the previous day, it fell by 1.47, but compared to one month ago, it rose by 6.78. Dunamu's Digital Asset Fear & Greed Index is divided into stages of 'Extreme Fear (0?20)', 'Fear (20?40)', 'Neutral (40?60)', 'Greed (60?80)', and 'Extreme Greed (80?100)'. The greed direction indicates increased interest in buying among market participants, whereas moving toward fear indicates a fear of asset decline, leading to market exits and a chain reaction of price drops.

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