According to CoinMarketCap, as of 8 a.m. on May 21, Bitcoin was trading at $77,424, up 0.92% from the previous day.
Ethereum also rose by 0.92%, reaching $2,126. Binance Coin (BNB), Solana, and Ripple (XRP) recorded increases of 1.51%, 2.25%, and 0.62%, trading at $648, $85, and $1.36, respectively.
Market analysts believe that the strong performance of the U.S. stock market and a renewed preference for risk assets have positively influenced the cryptocurrency market. Recent reductions in volatility in global financial markets have contributed to an improvement in investor sentiment.
As Bitcoin's upward trend continues, buying interest is spreading to major altcoins. Analysts note that there is growing optimism for short-term rebounds, particularly among certain altcoins like Solana.
As of 8 a.m. on the same day, Bitcoin was trading at approximately 114.95 million won ($77,425) on the domestic exchange Bithumb, reflecting a slight decrease of 0.04% from the previous day. The 'Kimchi Premium' was recorded at -0.860%, indicating that the price of Bitcoin in South Korea is lower than that in international markets.
* This article has been translated by AI.
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