[Bitcoin Now] Bitcoin Falls Below 20 Million Won in Domestic Market

[Asia Economy Reporter Minji Lee] Bitcoin, the cryptocurrency with the largest market capitalization, has fallen below 20 million KRW in the domestic market. It also broke below the $18,000 level in overseas markets.

According to the cryptocurrency exchange Upbit on the 26th, at 2:30 PM, Bitcoin was trading at 19,942,000 KRW, down 4.31% (898,000 KRW) compared to 24 hours earlier. The daily trading volume reached 208.3 billion KRW.

Other cryptocurrencies also showed a downward trend compared to the previous trading day. Ripple traded at 621 KRW, down 11.54%, and ADA (-11.73%), EOS (-7.47%), Bitcoin Cash (-7.78%), and TRON (-9.54%) also declined.

On another digital asset exchange, Huobi Korea, Bitcoin traded at 19,997,000 KRW, down 4.19% (874,000 KRW) from the previous day. Other cryptocurrencies such as Ethereum (-9.14%), EOS (-14.13%), ADA (-17.3%), Bitcoin SV (-11.57%), and TRON (-16.88%) also fell.

At the same time, in overseas markets, Bitcoin was trading at $17,793.39, down 5.51% compared to 24 hours earlier. The trading volume that day reached $49 billion (approximately 54 trillion KRW). Other cryptocurrencies also showed declines, including Ethereum (-9.86%), Bitcoin Cash (-15.95%), Litecoin (-11.23%), and Chainlink (-16.73%).

Kim Kyungsoo, CEO of Ether Lab, said, “With liquidity at a maximum globally, the fact that institutions consider cryptocurrencies as hedge assets supports a long-term upward trend,” adding, “It appears that the decline is due to increased profit-taking desires among individuals both domestically and internationally.”