As of 8 a.m. on June 9, Bitcoin was trading at $63,416, up 0.79% from the previous day, according to global cryptocurrency market site CoinMarketCap.
Last week, Bitcoin briefly fell below $60,000, marking a decline of over 50% from its all-time high recorded in October of last year. Over the past month, the cryptocurrency has seen a drop of approximately 20%.
Analysts attribute this rebound to the influx of bargain buying in risk assets following the stock market's downturn. Notably, shares of U.S. artificial intelligence (AI) semiconductor companies saw a significant recovery, boosting investor sentiment. Micron surged nearly 10%, while Nvidia and AMD also closed higher.
Other major altcoins also showed signs of recovery. Solana rose 2% to $67, Ethereum increased by 1.73% to $1,703, and XRP was up 2.04% at $1.17.
Meanwhile, at the same time, Bitcoin was trading at 95.05 million won (approximately $62,218) on the domestic exchange Bithumb, down 0.71% from the previous day. The so-called 'Kimchi Premium,' which indicates the difference between domestic and international prices, was recorded at -1.71%.
* This article has been translated by AI.
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