Bitcoin, which had risen to 134 million won, couldn’t sustain its uptrend and was pushed back. As of 8:00 a.m. local time on the 23rd, on the domestic exchange Bithumb, Bitcoin was trading around 132.26 million won, down 1.34% from 24 hours earlier. Bitcoin had touched 134 million won around midnight before giving up gains in the early morning and slipping again.
In dollar terms, it briefly rose to around $90,000 before retreating to around $88,500. Ethereum fell 1.45%, Ripple 1.53%, and Solana 1.26%, with the major alts turning lower after yesterday’s gains. CoinDesk attributed the earlier rally to the expiry of large Bitcoin and Ethereum derivatives options at Deribit. The size of expiring Bitcoin and Ethereum options was about $28.5 billion (about 42 trillion won), representing more than half of Deribit’s total notional open interest of $52.2 billion.
CryptoPrice data showed the Bitcoin kimchi premium at 0.84%, while a positive kimchi premium indicates domestic Bitcoin prices are higher than overseas. The fear-and-greed index stood at 25, signaling Extreme Fear. The lower the index approaches zero, the more likely investors are to be driven by fear and engage in overselling; and when the figure nears 100, the market is prone to greed and larger corrections.
Leave a Reply