“ChatGPT, it was observed that Bitcoin struggled to break past the $100,000 mark over the weekend. Throughout the weekend, Bitcoin attempted to rise above $101,000 repeatedly but was consistently blocked by sell orders, falling back. As a result of this movement, altcoins also showed a disappointing trend. With a favorable wind blowing in the cryptocurrency market recently, stocks of cryptocurrency exchanges have been showing significant increases. Dunamu, the operator of Upbit, saw its stock price surge by 88% over the past month.
On the 9th, Bitcoin was trading at $99,445 on Binance, the world’s largest cryptocurrency exchange, marking a 0.17% decrease over the previous 24 hours as of 2:40 PM. Since the 5th, Bitcoin has made three strong attempts to break through the $100,000 level but has failed each time, ending in a decline. Earlier that day, Bitcoin had also risen to $101,351 but quickly fell to the $98,000 level due to selling pressure.
According to Parasite Investors, by last week, the capital inflow into the U.S.-listed Bitcoin spot ETFs reached $33.4 billion. In terms of Bitcoin, the total holdings of U.S. spot Bitcoin ETFs now exceed 1,105,923 Bitcoin, surpassing the approximately 1.1 million Bitcoins held by Bitcoin’s creator, Satoshi Nakamoto. If considered as a single entity, U.S. spot Bitcoin ETFs collectively own more Bitcoin than any individual worldwide. BlackRock’s Bitcoin ETF ‘IBIT’ leads with 521,164 Bitcoin, followed by Grayscale’s GBTC with 214,217 Bitcoin and Fidelity’s FBTC with 199,183 Bitcoin.
As the interest in the cryptocurrency market continues, domestic coin exchanges are also attracting investor attention. On the unlisted stock trading platform ‘Securities Plus Unlisted’, Dunamu’s reference price on the 6th was 196,000 KRW, an 88.4% increase from 104,000 KRW the previous month. Bithumb also rose from 88,500 KRW to 137,000 KRW during the same period, a 54.8% increase. The daily trading volume of coins on domestic exchanges reached 11.964 trillion KRW as of 3 PM that day, surpassing the 10.7268 trillion KRW trading volume of KOSPI on the 6th.
Meanwhile, domestic coin exchanges reignited a listing competition, with Upbit announcing it would list the ‘Movement (MOVE)’ coin globally first at 9 PM. Bithumb matched the move by announcing it would also list it at the same time. Movement is a project aimed at linking programming languages such as ‘Move,’ used by Aptos and Sui, and Ethereum’s programming language, ‘Solidity.’ It supports both the MoveVM programming environment and Ethereum-based EVM transactions.”