Bitcoin Holds New Year Gains, Trades Around $91,000 [Crypto Briefing]

[Financial News] Bitcoin (BTC) was trading around $91,000 on the 9th, holding above the $90,000 level it reached at the start of the new year.
According to global digital asset data platform CoinMarketCap, Bitcoin (BTC) was changing hands at around $91,000 as of 10:30 a.m., up 0.05% over the past 24 hours. BTC has risen 3.27% over the past week.
In the Korean won market, BTC is trading around 133 million won. Based on data from global crypto market comparison platform Cryprice, the Korea premium stands at 0.77%.
BTC climbed to about $94,000 on the 6th but has been declining each day since. Market participants believe this is due to continued profit-taking. In fact, CoinMarketCap data show that institutions were net buyers of the Bitcoin Spot Exchange-Traded Fund (Bitcoin Spot ETF) for two consecutive sessions on the 2nd and 5th, but turned net sellers from the 6th to the 8th.
Kim Hyun-jung, a researcher at KIWOOM Securities, noted, “Bitcoin has often shown an upward trend in the first week of the new year, and this time appears to be no different, with investor sentiment improving. Inflows into spot Exchange-Traded Fund (ETF) products helped push prices above $90,000 at the start of the year.” She added, “However, views on the outlook have diverged since then, leading to profit-taking.”
The Crypto Fear and Greed Index provided by CoinMarketCap stood at 41 on the day, indicating a ‘neutral’ reading and slipping slightly from 43 the previous day. The index ranges from 0 to 100, with values near 0 interpreted as ‘extreme fear’ and those near 100 as ‘extreme greed.’
At the same time, Ethereum was trading around $3,140, down 1.08% from 24 hours earlier. Ripple (XRP) was at about $2.13, a decline of 2.25%.

yimsh0214@fnnews.com Lim Sang-hyuk Reporter