Bitcoin Breaks 160 Million Won, BTC, ETH, and SOL Strong, XRP Weak

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Bitcoin Breaks Through 161 Million Won... Caution on Volatility Due to Nasdaq Correlation

Bitcoin (BTC) has risen 0.05% in the last 24 hours and is trading at 161,194,000 won. However, its high correlation with the US stock market is raising investor concerns. Economist Henrik Zeberg analyzed that an overheated US stock market could negatively impact Bitcoin prices. In particular, Nasdaq's volatility is acting as a major variable in Bitcoin's price direction.

Ethereum Rises 6.6% in 24 Hours... Focusing on 6 Million Won Resistance Line

Ethereum (ETH) has risen 6.62% in 24 hours due to strong buying pressure and is trading at 5.97 million won. Recent increases in spot inflows and technical breakthroughs are driving the price increase, with the key resistance zone of 6-6.05 million won expected to determine future trends. Technically, the upper band of the expanded Bollinger Bands is being tested, suggesting expanded volatility.

Ripple Shows Weakness Despite Active Ecosystem

Ripple (XRP) has declined 1.86% in 24 hours, trading at 4,498 won, despite network upgrades and ecosystem activities. Experts assess that while XRP's long-term potential remains open, it currently lacks short-term upward momentum.

Solana Surges Amid Expanding Developer Activity

Solana (SOL) has shown a strong upward trend, rising to 256,000 won in 24 hours. Its technical excellence as a high-performance blockchain platform and DApp ecosystem expandability are acting as major investment factors. Analysts believe that continuous developer inflow and technological advancements are positively influencing Solana's price.

Overall, while the cryptocurrency market shows strength centered on Bitcoin and Ethereum, concerns about short-term volatility persist due to external variables like the US stock market and technical resistance levels. Investors should consider market conditions and each asset's technical trends with balanced perspective.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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