[Bitcoin Now] Bitcoin Rises 2.4% as Financial Risks Ease

As the financial risk subsides with Switzerland's top bank UBS acquiring Credit Suisse (CS), which was on the brink of bankruptcy, the price of Bitcoin is also on the rise.

Image source=Reuters·Yonhap News

According to CoinMarketCap, a global virtual asset market tracking site, as of 10:29 AM on the 20th, the price of Bitcoin was recorded at $27,822 (approximately 36.28 million KRW), up 2.44% from the previous day.

On the 19th (local time), UBS and CS held a press conference in Bern, Switzerland, announcing that the two companies had signed a merger agreement with UBS as the surviving entity. As concerns in the banking sector somewhat eased, Bitcoin surged to the $28,000 range that morning.

Meanwhile, investor sentiment in virtual assets also improved. According to Alternative, a virtual asset data provider, the Fear & Greed Index, which measures investment sentiment, rose by 3 points from the previous day to 66 points (Greed) on the same day. Alternative's Fear & Greed Index ranges from 0, indicating extreme fear and pessimism about investing, to 100, indicating optimism.