Analysts say that investors are becoming more risk averse as related indicators such as trading volume and profitability of cryptocurrencies and ETF (exchange-traded fund) fund flows have returned to levels seen before November last year.
As of 2:15 p.m. on the 19th, the domestic Bitcoin (BTC) price on the BitTorrent was down 0.94% from the same time the previous day to 142,614,000 won (approximately US$150,000).
At the same time, the overseas Bitcoin price based on CoinMarketCap was trading at $95,526 (approximately JPY 14.5 million), down 0.82% from the same time the previous day.
Bitcoin was trading at the $96,000 range the previous day, but fell to $95,211 that morning. It then recovered the loss and rose to $95,000.
"Bitcoin is maintaining low volatility while investors are becoming more risk averse," said an analyst at Betrunde K33 Research.
"Bitcoin trading volumes, returns, and spot ETF flows have returned to levels similar to those seen before the US presidential election in November of last year, and Bitcoin volatility has hit its lowest in several months.
"The cryptocurrency exchange Bitfinex said in a report that "geopolitical tensions continue, with Bitcoin maintaining a range of $91,000 to $102,000," and
"We have observed bearish signals for Bitcoin across key on-chain indicators," he said. "We expect the downward trend to continue over the coming weeks."
2025/02/19 14:55 KST
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