[Market Update] Bitcoin (BTC) Temporarily Gives Up $79,000...Kimchi Premium at 1.89%
Summary
- Bitcoin (BTC) was reported to be trading at $78,929, down 8.59% compared to the previous day.
- Analysis shows that Trump's tariff war and exchange hacking have increased volatility in the cryptocurrency market.
- The Kimchi premium for major cryptocurrencies including Bitcoin is currently at 1.89%.
Bitcoin (BTC) has temporarily given up the $79,000 level.
As of 4:48 PM on the 28th, BTC price is trading at $78,929 (117.5 million KRW on Upbit exchange), down 8.59% compared to the previous day on Binance's USDT market. As Bitcoin expands its decline, analysts suggest that volatility across the cryptocurrency market is increasing and fear sentiment is spreading.
Amid growing uncertainty due to Trump's trade war, coupled with the shock of the largest exchange hacking in history, downward pressure on the cryptocurrency market is intensifying.
On the 27th, President Trump announced that if the synthetic drug problem flowing into the United States is not resolved or significantly improved, he would implement the suspended 25% tariff on Canada and Mexico as scheduled on March 4, and impose an additional 10% tariff on China on the same day.
Meanwhile, according to Cryprice today, the Kimchi premium for major cryptocurrencies including Bitcoin (BTC) is recording 1.89%.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
