In the cryptocurrency market showing a short-term correction trend, Bitcoin is currently trading at approximately 125.8 million KRW, down about 0.47% compared to 24 hours ago. Market participants are closely monitoring the testing phase of key support levels.
Rob Hadick, an analyst at Qingting Capital, stated in an interview with CNBC: “The yield of Bitcoin before the 2024 US presidential election is about 26%,” and explained that this is similar to the 28% increase in Nasdaq. Based on this analysis, he believes cryptocurrencies are showing growth trends similar to traditional financial markets. He also added, “The medium to long-term prospects of the cryptocurrency market are very bright until 2026.”
Ethereum is currently trading at 4.23 million KRW, down about 0.12% from the previous day; Ripple’s trading price is 2,695 KRW, down 1% within 24 hours, showing a trend similar to Bitcoin. No significant positive news was confirmed on the day.
Solana is also trading around 177,000 KRW, continuing its downward trend. However, some altcoins like MOVE, AVNT, and ZBT have increased by 33%, 20%, and 19% respectively, showing upward momentum and creating a contrast.
Market experts interpret this decline as a correction phase within a long-term trend and expect that policy changes after the US election and the influx of institutional investors will have a positive impact on the market. Additionally, given that Bitcoin shows yields comparable to traditional financial markets, its potential to mature as a digital asset is also mentioned.
Industry insiders believe that considering long-term favorable factors such as future Bitcoin halving, the current price adjustment could be seen as a potential buying opportunity.
TokenPost AI Notice: This article uses a language model based on TokenPost.ai for summarization. The main content of the text may be omitted or may differ from the facts.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Rebound's Key Depends on Iran's Stance, Ceasefire News Sways Market Risk Appetite
US-Iran ceasefire reports trigger market volatility, Bitcoin rebounds in the short term. Analysts believe Iran's influence has transcended military operations, with markets sensitive to ceasefire expectations. A ceasefire would boost risk assets, while continued conflict would limit Bitcoin's upside potential. Investors need to monitor Iran's stance.
GateNews2m ago
"Silver Iron Head Air Force" took partial profits on long positions when BTC pulled back to the $71,000 round level, with a total scale of $13.5 million.
On March 25, Hyperinsight data showed that a whale focused on shorting partially reduced its BTC long positions after BTC briefly pulled back to $71,000, closing 190 BTC with profits of approximately $340,000. Currently, the whale still holds $27.6 million in BTC long positions with unrealized gains of $726,000. At the same time, it also closed $3.1 million in gold long positions.
BlockBeatNews3m ago
Three Major "Narrative Barriers" May Limit Strategic Bitcoin Expansion: Centralization Risks, Quantum Threats, and Diversification Concerns
Strategy is poised to become the largest corporate bitcoin holder, but faces concentration risk, quantum computing threats, and portfolio diversification issues that could impact its ability to increase holdings. Analysts point out these are key areas of concern, yet there are no signs indicating they will trigger large-scale risk.
GateNews9m ago
"Silver Iron Bullhead Air Force" Whale Takes Partial Profits as BTC Pulls Back to $71,000, Closing Position of $13.5 Million
On March 25, Gate News reported that according to Hyperinsight monitoring, a whale reduced their position by 190 BTC when BTC briefly pulled back to $71,000, closing the position with a profit of approximately $340,000. The remaining BTC long position of $27.6 million has an unrealized gain of $726,000, while the whale also closed a $3.1 million gold long position.
GateNews15m ago
Bitcoin Should Be $280,000: Real Estate Mogul Grant Cardone - U.Today
Grant Cardone believes Bitcoin is undervalued and should be priced at $280,000, with plans to hold 10,000 BTC. Meanwhile, Tom Lee's Bitmine outpaced Michael Saylor's Strategy in crypto acquisitions, focusing more on Ethereum.
UToday23m ago
