Bitcoin rebounds 6% in a day, recovering to $91,000

Source: DecenterKorea Original Title: Bitcoin rebounds 6% in a day, recovering to $91,000 [Decenter Market Update] Original Link: https://www.decenter.kr/NewsView/2H1L4U8051/GZ03

As of 8 AM on the 3rd, Bitcoin(BTC) recorded a price of 136,877,000 won, which is a 5.36% increase compared to the previous day at domestic cryptocurrency exchanges.

Bitcoin ( BTC ) has rebounded, recovering the $91,000 mark within a day. Amid the series of friendly moves towards cryptocurrency by major American financial firms, investor sentiment has been stimulated, and expectations for global liquidity expansion have coincided, leading to a collective rise in major cryptocurrencies.

As of 8 AM on the 3rd, based on the global cryptocurrency market, Bitcoin(BTC) is trading at $91,992.34, up 6.22% from 24 hours ago. Ethereum(ETH) has also risen 7.82% to $3,017.71. XRP( has increased by 6.49% to $2.169, and Binance Coin)BNB( is up 6.17% to $880.34. Solana)SOL( is trading at $139.91, having surged by 10.07%.

The domestic market showed the same trend. In domestic cryptocurrency exchanges, BTC recorded 136,877,000 won, up 5.36% from the previous day. ETH rose 6.93% to 4,489,000 won, while XRP is trading at 3,226 won, up 5.74%.

This rebound is analyzed to have been influenced by a series of positive signals from large financial institutions. Bank of America recommended on the 2nd ) local time ( that clients in advisory portfolios should allocate up to 4% of BTC starting in January next year. Large asset management firms, which had previously blocked access to cryptocurrency ETFs, have also reversed their conservative stance by allowing ETF trading.

Bitwise stated in a report that “the recent price movements of BTC show the clearest macroeconomic dislocation in recent years,” adding that “while global liquidity is surging, BTC is unable to keep pace with the increase in money supply and the record-breaking flow of gold. This gap will create opportunities for a rise next year.”

The investment sentiment in cryptocurrency has shifted back to a state of 'extreme fear.' The fear and greed index from a cryptocurrency data analysis company has dropped by 1 point to 23 points compared to the previous day. This index indicates that the closer the value is to 0, the more the investment sentiment is repressed, while the closer it is to 100, the more it indicates market overheating.

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