AJP Asia Intelligence Agency

Bitcoin Trades at $78,300 Amid Expectations of Increased U.S. Liquidity

비트코인이 소폭 반등했다. 미국 국채 바이백 확대에 따른 유동성 개선 기대와 위험자산 투자심리 회복이 가격을 뒷받침하는 것으로 풀이된다. 

According to CoinMarketCap, Bitcoin was trading at $78,333 as of 8 a.m. on August 31, up 0.13% from the previous day. 

The recent price drop led to a wave of bargain buying, contributing to the rebound. Bitcoin had recently fallen to around $80,000, prompting profit-taking. Instead of anticipating further declines, investors viewed the lower prices as an opportunity to buy, which helped recover some of the losses.

The U.S. Treasury's decision to expand its long-term bond buyback program has increased expectations for improved market liquidity. This, combined with the potential for a weaker dollar, has bolstered investor sentiment towards alternative assets like Bitcoin and gold.

The performance of the U.S. stock market also supported the cryptocurrency market. In New York, a preference for riskier assets, particularly in technology stocks, led to increased buying of Bitcoin. Recently, Bitcoin has shown a strong correlation with U.S. tech stocks, moving in tandem with market trends. 

Major altcoins also showed upward trends. Ethereum rose 0.52% to $2,466, while Binance Coin (BNB) increased by 0.04% to $693. In contrast, Tether and XRP fell by 0.01% and 0.78%, respectively. 

Meanwhile, at the same time on the domestic exchange Bithumb, Bitcoin was trading at 1,088,000 won (approximately $78,845), a decrease of 0.45% from the previous day. The 'Kimchi premium' stood at 0.96%, indicating that the price of Bitcoin traded domestically is higher than that in international markets.




* This article has been translated by AI.