Bitcoin (BTC) continues to fluctuate around the $105,000 level and has been maintaining a prolonged sideways trend. Despite consecutive positive developments such as the Trump media group applying for a BTC spot ETF and JP Morgan pushing to launch a BTC ETF collateral loan service, prices have shown no signs of rebounding.
According to CoinMarketCap, a global virtual asset market site, as of 8 AM on the same day, BTC was trading at $104,854.73, down 1% from the previous day. At the same time, the altcoin leader Ethereum (ETH) recorded $2,607.55, down 0.07%. XRP dropped 2.39% to trade at $2.205 per coin. Solana (SOL) recorded $153.56, down 1.79%.
On the domestic exchange Bit, BTC recorded 145,539,000 won, down 1.42% from the previous day. ETH was down 0.41% to 3,621,000 won, and XRP was trading at 3,061 won, down 2.92%.
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Despite recent positive developments, the prices of major virtual assets including BTC continue to remain stagnant. Previously, Trump Media and Technology Group (TMTG) submitted an application for a BTC spot ETF listing to the New York Stock Exchange. TMTG had announced plans to invest in BTC by issuing $2.5 billion worth of stocks and convertible bonds at the 'Bitcoin 2025' event held in Las Vegas last month.
JP Morgan is also reportedly planning to offer a loan service using the 'iShares Bitcoin Trust (IBIT)' as collateral. This is interpreted as a signal that BTC is being formally integrated into traditional financial asset domains.
Meanwhile, in the US Congress, conflicts of interest surrounding the president's virtual asset activities are intensifying, causing delays in virtual asset legislation. At the House Financial Services Committee hearing on virtual asset market structure bill on the 4th, Democratic Ranking Member Maxine Waters expressed concerns that without clear regulations, the president could accumulate wealth through virtual assets. Democratic Representative Gregory Meeks also criticized that the president has created such an unreasonable situation that discussions about potential conflicts of interest are unavoidable.
The Crypto Fear and Greed Index from alternative asset data analysis company Alternative.me dropped 2 points from the previous day to 62 points, indicating a state of 'greed'. This index means that the closer to 0, the more constrained the investment sentiment, while closer to 100 indicates market overheating.
- Reporter Kim Jung-woo
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