Crypto Assets market Rebound·Bitcoin recovers $93,000

Source: DecenterKorea Original Title: Cryptocurrency Market Rebounds···Bitcoin Recovers to $93,000 [Decenter Market Update] Original Link: https://www.decenter.kr/NewsView/2H0IJR8MCB/GZ03

According to the data at 8 a.m. on the 19th, the Bitcoin (BTC) on a leading domestic exchange has decreased by 0.22% compared to the previous day, quoted at 138,179,000 Korean Won.

Bitcoin, which previously fell below $90,000, (BTC), has resumed its rebound trend. As major market indicators show signs of bottoming out, professionals analyze that this sharp decline is nearing its end.

According to data from global cryptocurrency market websites on the 19th, at 8 AM, Bitcoin (BTC) rose by 1.07% compared to 24 hours ago, with a trading price of $93,141.49. Ethereum (ETH) increased by 3.45% to $3,123.96, XRP rose by 2.95% to $2.226, a major exchange token (BNB) increased by 2.91% to $933.86, and Solana (SOL) rose by 7.56% to $141.37.

However, the domestic market trends are somewhat different. The BTC price on a leading domestic exchange has decreased by 0.22% compared to the previous day, quoted at 138,179,000 KRW. ETH has increased by 2.03% to 4,630,000 KRW, and XRP has risen by 1.51% to 3,302 KRW.

Professionals analyze that the BTC price has bottomed out, and the selling pressure is gradually fading. The head of digital asset research at a leading institution stated: “The recent sharp drop in BTC is not much different from the adjustments in the past few years; it’s just a faster and more painful version. Key indicators have fallen to levels historically consistent with bottoms, and the adjustment phase has ended. A rebound is expected to commence by the end of the year.”

A leading exchange analyst also stated: “From on-chain indicators, the realization loss speed of short-term holders is slowing down, showing sell-off signals, forming a typical bottom formation pattern.”

The current investment sentiment in cryptocurrency is still in a state of “extreme fear.” The Fear and Greed Index from a cryptocurrency data analysis company has decreased by 3 points to 11 points compared to the previous day. The closer the index is to 0, the more the investment sentiment shrinks, and the closer it is to 100, the more overheated the market is.