Recent fluctuations in Bitcoin's price have seen it stabilize around $84,000 after recovering to $87,000 for the first time in eight months. Market observers are closely watching whether Bitcoin can maintain this support level, especially with the historically bullish month of October approaching, which has historically seen price increases.
According to CoinMarketCap, Bitcoin was trading at approximately $84,234, down 0.03% from the previous day as of 8 a.m. on the 28th.
Major altcoins have also shown mixed performance following recent surges. Ethereum fell 0.35% to $2,678.81, while Ripple (XRP) dropped 0.92% to $1.50. Conversely, Solana rose 0.26% to $121.46, and Binance Coin (BNB) increased by 0.26% to $774.92.
Market analysts believe that whether Bitcoin can hold the $84,000 level will be a critical factor in determining future price movements. There is particular interest in whether the historical bullish trend of October will repeat itself following the Chuseok holiday. Bitcoin has experienced price increases in October for six consecutive years from 2019 to 2024.
Investor sentiment remains optimistic, with CoinMarketCap's 'Crypto Fear and Greed Index' registering a score of 71, indicating a state of 'Greed.'
Meanwhile, at Bithumb, Bitcoin was trading at 11,440,000 won ($84,184), down 0.54% from the previous day. The 'Kimchi Premium,' which indicates the degree to which domestic prices exceed international prices, was recorded at 0.202%.
* This article has been translated by AI.
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