[Market Update] Bitcoin (BTC) Temporarily Drops Below $94,000...Kimchi Premium at 4.59%
Minseung Kang
Summary
- Bitcoin (BTC) has been showing weakness following the recent rate cut by the Fed and Powell's statement, it reported.
- Bitcoin (BTC) recently temporarily dropped below $94,000, declining by 2.23%, it stated.
- It newly reported that Bitcoin's Kimchi Premium is at 4.59%.
Bitcoin (BTC) temporarily dropped below $94,000.
On the 23rd, BTC's price was trading at $93,887 (₩142,680,000 on Upbit) on the Binance USDT market at 11:48 PM, down 2.23% from the previous day. Bitcoin has been on a downward trend following the recent hawkish (preference for monetary tightening) rate cut by the Fed and Powell's statement against Bitcoin hoarding.
Meanwhile, according to Cryprice, the Kimchi Premium for major cryptocurrencies, including Bitcoin (BTC), is at 4.59%.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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