Bitcoin Rebounds to $86,000 Level After Hitting $81,000 [Crypto Briefing]

[Financial News] Bitcoin (BTC) climbed from the $81,000 level to $86,000 on the 24th. After a month-long decline, BTC saw a slight rebound as buyers entered the market at lower prices.
According to global digital asset data platform CoinMarketCap, as of 10 a.m. on this day, BTC was trading at around $86,000, up 2.07% from the previous day (24-hour basis). Over the past week, BTC has fallen by 9.00%.
In the Korean won market, BTC is trading at around 131 million won. According to the global digital asset price comparison platform Cryprice, the Korea premium stands at 3.12%.
BTC has been on a downward trend, dropping 21.73% over the past month. On the 21st, after the $90,000 level was breached, it briefly fell to $81,000, but partially recovered over the weekend.
This is attributed to renewed expectations of an interest rate cut next month. On the 21st (local time), John C. Williams, President of the Federal Reserve Bank of New York, hinted at a possible rate cut, stating, "Monetary policy is somewhat restrictive, so there is room to adjust the benchmark rate." Williams is known as a key figure in the Fed alongside Jerome Hayden Powell, Chair of the Fed, and Philip Jefferson, Vice Chair.
Institutional investors have also resumed accumulating BTC. According to CoinMarketCap, while there were net outflows from spot Exchange-Traded Funds (ETF) between the 12th and 18th and on the 20th, there was a net inflow of $238.4 million on the 21st.
At the same time, Ethereum was trading at $2,785, up 0.53% from the previous day. Ripple was trading at $2.05, up 4.86%.

yimsh0214@fnnews.com Im Sang-hyuk Reporter