Bitcoin's price maintains a strong trend, surpassing 160 million won, even after the US Federal Reserve's (Fed) decision to hold interest rates. Currently, Bitcoin is trading at 165.66 million won, up 0.75% in the last 24 hours. This is interpreted as demonstrating the cryptocurrency market's resilience amid US economic uncertainty and macroeconomic volatility.
ETH is trading at 5.31 million won, rising 0.91% in 24 hours. Expectations of increased DApp activity on Ethereum have also contributed to its upward momentum. XRP is trading at 4,356 won, rising 1.11% in a day, showing a positive trend and performing relatively well among major altcoins.
SOL is currently trading at 248,000 won, maintaining a stable movement among major altcoins amid mixed market conditions. The total cryptocurrency market capitalization is approximately 3.9 trillion dollars, rising 0.93% in the last 24 hours. This is interpreted as a result of continued market participation by institutional investors.
The Federal Reserve's decision to hold interest rates is analyzed as a measure considering political pressure and market instability amid economic uncertainty. The upcoming US tariff increase on China from August is also a key variable that cryptocurrency investors are paying attention to. Despite these macroeconomic factors, the significant increase in Non-Fungible Token market trading volume in July suggests market diversity and support.
While the cryptocurrency market currently shows an optimistic sentiment centered on Bitcoin, a cautious approach is still maintained. Experts predict that the 160 million won level for Bitcoin could serve as a psychological support line and are noting its potential as a basis for future upward momentum.
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