[Bitcoin Now] Settling in the $24,000 Range... Investor Sentiment Remains 'Greedy'

[Asia Economy Reporter Lee Jung-yoon] The representative virtual asset Bitcoin price has settled in the $24,000 range. Despite ongoing concerns about tightening by the U.S. Federal Reserve (Fed), optimistic expectations about the market are leading to investments.

[Image source=Reuters·Yonhap News]

According to the global virtual asset market status relay site CoinMarketCap, as of 3:54 PM on the 19th, the Bitcoin price was recorded at $24,668 (approximately 32.07 million KRW), up 0.14% from the previous day.

Bitcoin prices have maintained the $24,000 range despite recent sanctions by U.S. financial authorities. The New York Department of Financial Services (NYDFS) ordered Paxos, which issues the stablecoin BUSD for Binance, the world's largest virtual asset exchange, to cease issuance. Additionally, the U.S. Securities and Exchange Commission (SEC) has imposed sanctions on Kraken, the world's third-largest virtual asset exchange, for its staking services. However, there are claims that these sanctions will help improve uncertainty in the virtual asset market, and analyses suggest that coin prices are showing stability.

Virtual asset investment sentiment has also risen to a level of greed. According to the virtual asset data provider Alternative, the Fear & Greed Index, which expresses investment sentiment as an index, recorded 60 points (greed) on the day, the same as the previous day. A week ago, on the 12th, it recorded 50 points (neutral), but it improved to 62 points (greed) on the 16th, showing an improvement in investment sentiment. Alternative's Fear & Greed Index means that a score closer to 0 indicates extreme fear and pessimism about investment, while a score near 100 indicates optimism.

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