Bitcoin's All-Time High Surpasses 160 Million Won, Continues to Rise on ETF Fund Inflow

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Bitcoin Breaks All-Time High with ETF Fund Inflows

Bitcoin traded at 162.3 million won, rising 6.39% in 24 hours. This rally is attributed to ETF fund inflows of 1.7 trillion won and short position liquidations worth 670 billion won, with analysts noting the largest short squeeze since January. Experts assessed that institutional fund inflows and expectations of regulatory developments in the US Congress are having a positive impact on the market.

Ethereum Surpasses 4.12 Million Won with Whale Buying

Ethereum traded at 4.12 million won, rising 7.83%. Active purchases by large investors, short position liquidations, and investor expectations for staking returns are cited as factors for the increase. Network activity growth and expectations for ETF development are also having a positive influence.

XRP Surges to 3,800 Won with SEC Settlement Expectations

XRP rose 14.05% to 3,808 won, recording the highest return among cryptocurrencies. Analysts suggest investor confidence is recovering as the possibility of a favorable resolution with the US Securities and Exchange Commission (SEC) emerges.

Solana Records 228,000 Won with Technical Breakthrough

Solana is currently trading at 228,000 won, with assessments of a technical breakthrough. Along with Ethereum and XRP, it shows strong performance, interpreted as positively influenced by network performance enhancement and increased developer activity.

Cryptocurrency Market Improves Overall Investment Sentiment

Overall, the cryptocurrency market continues to show strength due to ETF fund inflows, short liquidations, and regulatory expectations. Experts provided a positive medium to long-term outlook, noting the market's institutionalization and expanding real adoption, while cautioning about potential short-term corrections.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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