, which had been sideways for about a month, finally exceeded $100,000 on Dec. 5. Bitcoin, which was crossing the $98,000 mark on the morning of Dec. 5, surpassed $100,000 at 11:40 a.m. Bitcoin, which surpassed $100,000, continued to defend $100,000. As the symbolic section of $100,000 was exceeded, additional buying surrounding Bitcoin flowed in. As Bitcoin surpassed $100,000, funds in the cryptocurrency market were concentrated on Bitcoin. Bitcoin Dominance rose and altcoins fell. Except for \'light\' altcoins with low market capitalization soaring m', 'https://img.blockstreet.co.kr/photo/2024/05/28/20240528000001_0640.jpg', 'https%3A%2F%2Fwww.blockstreet.co.kr%2Fnews%2Fview%3Fud%3D2024120516573807851'));){kind=link}
BTC Breaks $100,000 At 11:40 AM on Dec. 5
Defending $100,000 on Additional Buying
Altcoin Remains Weak by BTC High March
);)
Bitcoin, which was crossing the $98,000 mark on the morning of Dec. 5, surpassed $100,000 at 11:40 a.m. Bitcoin, which surpassed $100,000, continued to defend $100,000.
As the symbolic section of $100,000 was exceeded, additional buying surrounding Bitcoin flowed in.
As Bitcoin surpassed $100,000, funds in the cryptocurrency market were concentrated on Bitcoin. Bitcoin Dominance rose and altcoins fell.
Except for 'light' altcoins with low market capitalization soaring more than 20%, altcoins have shown a slight slowdown in their strength for a while.
◇Bitcoin = Bitcoin price is $102,525 at 4:30 p.m. on Dec. 5, 2024. The Bitcoin share (dominance) was 56.56%.
The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 44.44% and 55.56%, according to the on-chain analytics platform Sigbtc.
People who have great influence over Bitcoin around the world gave impressive reviews.
Jerome Powell, chairman of the U.S. Federal Reserve, referred to Bitcoin as a gold reformer.
Asked in an interview with the New York Times on the 4th whether the recent surge in Bitcoin means a loss of confidence in the dollar and the Fed, Powell replied, "People don't think so," adding, "Bitcoin is like gold, but it is virtual and not a competitor to the dollar digitally."
Regarding Bitcoin, he explained, "It should be interpreted as a competitive asset of gold rather than dollars because it is more speculative than currency due to its high volatility."
Russian President Vladimir Putin said in a forum interview on the 4th, "Who can ban Bitcoin? No one," adding, "The use of other digital payment methods cannot also ban them based on their new technology."
◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Dec. 5 was Creditcoin(CTC), which rose about 32%.
Creditcoin reduce information asymmetry between borrowers and lenders by publicly recording credit records. The project is to secure capital financing and build credit records to promote the trust of millions of financial customers and companies marginalized in emerging markets.
◇Fear Greed Index = The cryptocurrency fear-greed index provided by Alternative is 84 points, which has entered the 'Extreme Greed' stage. Extreme Greed is an upward phase accompanied by high volume and strong volatility. It can be said to be a selling section for institutions as it is highly likely to leave the market at its peak.
The cryptocurrency relative strength index(RSI) provided by Sigbtc was 72.2, which was 'Overbought'. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of overbought and over-selling of a particular asset.
권승원 기자 ksw@blockstreet.co.kr