[Market Update] Bitcoin (BTC) Temporarily Retracts to $104,000...Kimchi Premium at 0.89%
Minseung Kang
Summary
- Bitcoin rose to $106,648 but temporarily retracted, trading at $103,640.
- The optimistic outlook on U.S. virtual asset policies and increased inflows into spot ETFs are cited as reasons for the price increase.
- The Kimchi Premium for Bitcoin and other major virtual assets is reported to be 0.89%.
Bitcoin (BTC) temporarily retracted to $104,000.
As of 20:55 on the 16th, BTC is trading at $103,640 on the Binance USDT market, up 1.12% from the previous day (150.3 million KRW on Upbit exchange). Bitcoin hit an intraday high of $106,648 due to optimistic outlooks on U.S. virtual asset policies and increased inflows into spot Exchange Traded Funds (ETFs).
Meanwhile, according to Cryprice, the Kimchi Premium for major virtual assets, including Bitcoin (BTC), is at 0.89%.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
