Bitcoin Recovers to $85,000 for the First Time in Eight Months... Is the 'Crypto Winter' Over? [Crypto Briefing]

[Financial News] Bitcoin's recovery to the $85,000 level after eight months has fueled expectations that the market downturn may be over.
According to CoinMarketCap, a global virtual asset information platform, Bitcoin was trading around $85,000 as of 10:30 a.m. on the 22nd, up 5.52% from the previous day on a 24-hour basis. Bitcoin has risen 10.05% over the past week. Bitcoin last reached the $85,000 level in January, making this its first return in eight months.
Bitcoin was trading around KRW 115 million in the Korean won market. The Korean premium stood at -1.17%, according to Cryprice, a global platform that compares virtual asset market conditions.
The procedural vote on the CLARITY Act, a virtual asset regulatory bill, recently failed in the U.S. Senate. Still, the market appears to be focusing on the broader shift toward regulatory easing.
Hong Jin-hyun, a researcher at Samsung Securities, analyzed, "The declines in Bitcoin and major coins were relatively limited after the CLARITY Act failed. Conversely, after the U.S. Securities and Exchange Commission (SEC) granted a five-year innovation exemption for tokenized stock trading, related stocks and some coins rose," adding, "The market is becoming less sensitive on the downside to policy uncertainty, while its upside response to expectations of regulatory easing is growing."
The drop in international oil prices also helped revive investor sentiment. On the 21st (local time), November Brent crude futures settled at $100.34 a barrel, down 3.4% from the previous session, while October-delivery West Texas Intermediate (WTI) futures settled at $95.78 a barrel, down 4.5%.
Expectations for easing tensions between the United States and Iran appear to have grown after U.S. President Donald Trump said on the 20th (local time) that he "would be open to it" regarding the possibility of meeting Iranian President Masoud Pezeshkian at the U.N. General Assembly.
The CoinMarketCap Crypto Fear and Greed Index stood at 78 on the day, indicating "Greed." The index ranges from 0 to 100; readings closer to 0 are interpreted as "Extreme Fear," while those closer to 100 indicate "Extreme Greed."
At the same time, Ethereum was trading around $2,753, up 3.10% from the previous day. Ripple (XRP) was trading around $1.51, up 6.53%.

[email protected] Im Sang-hyuk Reporter