Bitcoin (BTC) price broke through 167.43 million won, recording the highest price in August. With a 3.55% increase in 24 hours, analysts suggest that the bullish trend continues. Major altcoins such as Ethereum (ETH), Ripple (XRP), and Solana (SOL) are also rising together, creating a positive atmosphere in the cryptocurrency market.
Bitcoin continues the upward momentum formed during the weekend, maintaining a stable flow in the mid-160 million won range. Ethereum has also surpassed the 6 million won level, breaking through major resistance zones, and market experts are paying attention to whether Bitcoin can cross the psychological resistance line of 170 million won.
While the short-term upward trend is expected to continue, some analysts mention the possibility of a downward adjustment due to the CME futures gap. This is interpreted as a natural adjustment process, and expectations are growing that it could enter a new upward phase afterward.
Ethereum continues its strong trend, rising above 6 million won. It increased by 0.81% in 24 hours, and maintaining the 6 million won support line is expected to be a key variable in maintaining momentum.
Ripple is currently trading at 4,487 won, slightly declining (-0.09%) over the past day. There are expectations that uncertainty has been partially resolved after the legal dispute with the SEC, but official information confirmation is needed.
Solana is trading around 255,000 won, showing movements linked to market trends. With no clear news about ecosystem updates or development, its correlation with major cryptocurrencies is being emphasized.
Meanwhile, approximately 460 billion won worth of cryptocurrency liquidation occurred in the past 24 hours, with many being short positions. The possibility of a short squeeze remains open, and continued upward momentum could induce further increases.
Bitcoin's main support line is set at 165 million won, with resistance at 170 million won. Ethereum is currently experiencing a key inflection point in the box range between 5.9 million and 6.1 million won.
This week, token unlocks are scheduled for a total of 26 altcoins, which could be a factor in expanding short-term market volatility. Particular attention is needed for projects with high unlock ratios relative to market capitalization.
Investors should focus on whether Bitcoin can break through the 170 million won resistance line and set new highs, and also observe Ethereum's box range breakthrough. For Ripple and Solana, response seems necessary based on their respective issues, news confirmation, and correlation with Bitcoin.
While experts believe Bitcoin's upward trend is likely to continue for the time being, they also cannot rule out the possibility of short-term adjustments. Continuous monitoring of global financial market trends and institutional changes is also necessary.
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