Bitcoin Surpasses 120 Million Won… Ethereum and Ripple Also Join the Rise

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Bitcoin Breaks Through 120 Million Won, Continues Strong Trend

Bitcoin is currently trading at approximately 120.1 million won per 1 BTC, up 1.49% from the previous day. It has risen 1.29% over the past 7 days and 3.27% over 30 days. Its market capitalization is around 2,384 trillion won, accounting for 62.46% of the entire cryptocurrency market and maintaining market leadership. The 24-hour trading volume is about 39.3 trillion won, down 28.03% from the previous day, which is analyzed as a weekend effect.

Experts say, "Bitcoin breaking through 120 million won is a result of positive market sentiment" and predict that "if additional upward momentum is formed, it could reach 130,000 won".

Ethereum Shows Upward Trend with Signs of Rebound

Ethereum has recovered to around 2.27 million won, rising 2.18% in the past 24 hours. However, it has declined 11.56% over the past week and 15.32% over 30 days, indicating a short-term adjustment. Its market capitalization is 274 trillion won, accounting for 7.19% of the market.

The importance of Ethereum network is being highlighted in the DeFi sector due to stablecoin activation, and current technical rebound signals are stimulating investment sentiment.

Ripple Rebounds Amid Investor Expectations

Ripple (XRP) is currently trading at 3,032 won, up 5.20% in the past 24 hours. Its market capitalization is around 177 trillion won, with a market share of 4.64%. Trading volume has increased by 15.56% from the previous day, gaining momentum. It has risen 0.07% over 7 days and declined 6.87% over 30 days, but a recent upward turn is expected.

Cryptocurrency Market Outlook and Strategy

While the market is rebounding centered on Bitcoin, altcoins like Ethereum and Ripple are still in the recovery phase. Especially, Ethereum has declined 38.55% over 60 days and 50.44% over 90 days, interpreted as a consolidation phase.

Experts analyze that "Bitcoin's strength could lead to altcoin recovery, and the rebound of Ethereum and Ripple will be a measure of market trends".

Investors should pursue diversification and risk management in a high-volatility environment, and it is an advantageous time to build a strategic portfolio centered on Bitcoin.

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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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