[Bitcoin Now] Still at 11.6 Million Won... Bitcoin Remains Sideways

Ethereum, Ripple, and Others Show No Significant Changes

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[Asia Economy Reporter Minwoo Lee] The price of the leading cryptocurrency Bitcoin is moving sideways without significant fluctuations. It has remained close to around 11.5 million KRW for a week.

According to the domestic cryptocurrency exchange Upbit on the 10th, as of 4:45 PM, the price of Bitcoin recorded 11.62 million KRW, down 0.61% compared to 24 hours earlier. After reaching 12.23 million KRW on the 1st and slightly dropping, it has not deviated significantly from the 11.5 million KRW level.

Major cryptocurrencies such as Ethereum and Ripple are also in a calm state. Ethereum is currently at 290,750 KRW, down 0.43% compared to 24 hours ago. Similarly, it has remained stable around 290,000 KRW since the beginning of this month. Ripple maintains the same price as the previous day at 241 KRW. Since early this month, it has struggled to settle at the 250 KRW level and is moving sideways in the 240 KRW range.

Cryptocurrency specialist analyst Joseph Young stated on his Twitter, "Hedge funds, billionaires, and institutional investors are choosing traditional investment assets and holding cash as a risk-avoidance measure, making Bitcoin increasingly ambiguous," adding, "In the short term, it is currently unknown at what point Bitcoin demand will be triggered."