Bitcoin recovers to $119,000... Ethereum lingers in the $4,200 range [Decenter Market Report]

Bitcoin (BTC) continues its steady upward trend, recovering to the 119,000 dollar range for the first time in two weeks. Ethereum (ETH), which broke through 4,300 dollars for the first time since 2021 the previous day, is now taking a breather in the 4,200 dollar range.

According to the global cryptocurrency market site CoinMarketCap on the 11th, BTC was trading at $119,108.87 at 8 AM, up 2.07% from 24 hours earlier. This marks a recovery to the 119,000 dollar range for the first time in two weeks since July 28th. With the recent sharp rise of Ethereum (ETH), the second-largest market capitalization, BTC's market share, which had dropped to 59%, has rebounded to 59.8%.



At the same time, ETH recorded $4,250.78, down 0.9%. After breaking through 4,300 dollars for the first time since December 2021 and raising expectations of an all-time high, it has now entered a correction phase. According to CoinMarketCap, ETH's all-time high is $4,891.7 recorded in November 2021, and the current price is still about 13% lower.

Other major altcoins showed mixed trends. XRP dropped 1.52% to $3.177, while Solana (SOL) rose 1.29% to $182.94.

The domestic market showed a similar pattern. On the domestic exchange Bithumb, BTC rose 1.97% to 163,349,000 won. ETH dropped 0.56% to 5,827,000 won, and XRP fell 1.51% to 4,367 won.

Global cryptocurrency exchange Bybit analyzed, "Bitcoin's market share remains high, and there are almost no altcoins showing sharp price increases," adding that "this reflects how much the market influence of institutional investors preferring to hold large-cap assets long-term has grown."

The Fear and Greed Index from cryptocurrency data analysis firm Alternative.me rose 2 points to 69 points, indicating a state of "greed". This index means that the closer it is to 0, the more contracted the investment sentiment, and the closer to 100, the more overheated the market is.

Reporter Kim Jung-woo