[Market Update] Bitcoin (BTC) Temporarily Recovers to $105,000... Major Altcoins Also Rebound
Summary
- Bitcoin (BTC) temporarily recovered to $105,000 after the Federal Open Market Committee (FOMC) interest rate decision.
- Among altcoins, Litecoin (LTC) rose 7% on news of the U.S. SEC's initiation of ETF review.
- The Kimchi Premium for Bitcoin and others is recorded at 5.36%, indicating potential additional price volatility in the Korean market.
Bitcoin (BTC) temporarily recovered to $105,000.
On the 30th, BTC price was trading at $105,163, up 2.89% from the previous day, based on the Binance USDT market (159.55 million KRW on Upbit).
Bitcoin has shown a slight upward trend since the Federal Open Market Committee (FOMC) interest rate decision in January. Economist and renowned cryptocurrency trader Alex Kruger evaluated, "This FOMC meeting was a 'good' announcement that met market expectations."
Altcoins, including Ethereum (ETH), also saw a slight rebound. In particular, Litecoin (LTC) rose 7% on news that the U.S. Securities and Exchange Commission (SEC) has begun the review process for a Litecoin spot ETF.
Meanwhile, according to Cryprice, the Kimchi Premium for major cryptocurrencies like Bitcoin (BTC) is recorded at 5.36%.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![Dow Tops 50,000 for First Time Ever as “Oversold” Narrative Spreads [New York Stock Market Briefing]](https://media.bloomingbit.io/PROD/news/1c6508fc-9e08-43e2-81be-ca81048b8d11.webp?w=250)
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