With expectations of easing global trade tensions, Bitcoin (BTC) has recovered the $100,000 mark for the first time in three months. The altcoin leader Ethereum (ETH) also surged by about 20% from the previous day, breaking through $2,000.
According to CoinMarketCap, a global virtual asset market site, BTC was traded at $102,944.88 as of 8 am on the same day. This is a sharp increase of 5.87% from the previous day. BTC's market capitalization has exceeded $2 trillion, surpassing Alphabet and Amazon to rank 5th in global asset rankings.
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At the same time, ETH recorded $2,178.65, up 19.89%. This is the first time ETH has broken $2,000 in two months. XRP rose 7.67% to trade at $2.292 per unit. Solana (SOL) recorded $161.35, up 9.19%.
Major virtual assets are also showing strong performance in domestic exchanges. At Bithumb, BTC recorded 144,589,000 won, up 4.78% from the previous day. ETH rose 18.64% to 3,061,000 won, and XRP is trading at 3,220 won, up 6.62%.
On the 8th (local time), Donald Trump's announcement of a trade agreement between the US and the UK led to a surge in virtual assets. This is the first time the Trump administration has reached a trade agreement with an individual country after announcing mutual tariffs on global trading partners last month.
Particularly, when President Trump stated at the trade agreement announcement with the UK that "it's better to buy stocks right now," the buying sentiment for risky assets was strengthened. Jeff Kendrick, an analyst at Standard Chartered, suggested the possibility of further increases in a customer letter, saying, "The Q2 BTC target price of $120,000 seems too low."
The Crypto Fear and Greed Index by alternative asset data analysis company Alternative.me dropped 2 points from the previous day to 65 points, indicating a state of "greed". This index means that the closer it is to 0, the more investment sentiment is suppressed, and the closer it is to 100, the more it indicates market overheating.
- Reporter Kim Jung-woo
- woo@sedaily.com
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