Bitcoin recovers to 130 million won level in a month and a half

Trump's 'rate cut' pressure impact

Bitcoin price surged more than 6% in a day, recovering to the 130 million won level in a month and a half. It is analyzed to be influenced by U.S. President Donald Trump's pressure on the U.S. Central Bank (Fed) to cut interest rates.

According to the domestic cryptocurrency exchange Upbit, Bitcoin recorded 133,855,000 won as of 9 a.m., up 6.03% from 24 hours ago. This is the first time Bitcoin has risen to the 130 million won level since the 7th of last month. In the global market, it recorded $93,489.8, regaining the $90,000 level.

The reason for the rebound in Bitcoin price is the highlighted expectation of a base rate cut. President Trump stated, "I hope the Fed actively pursues a rate cut," and "now is the perfect time to lower rates." Generally, when the base rate decreases, Bitcoin prices tend to rise.

Some analysts suggest that Bitcoin is showing its aspect as a safe asset. Bloomberg reported, "After President Trump announced plans for large-scale tariffs, risk assets generally showed a downward trend," and "on the other hand, Bitcoin has started to show a similar trend to gold, which stands out as an asset in uncertain markets."

There is also an argument that Bitcoin's decoupling phenomenon from U.S. assets is due to the weak dollar. The U.S. dollar has recently plummeted to its lowest level in three years. As investment sentiment changed, $381 million flowed into the U.S.-listed Bitcoin ETF in a single day on the 21st. This is the largest scale since January 30. Richard Galvin, co-founder of the virtual asset hedge fund DACM, said, "If Bitcoin continues to trade like gold rather than tech stocks, the decoupling narrative will gain more strength."

Reporter Jo Mi-hyun mwise@hankyung.com