The cryptocurrency market has entered a correction due to the decline in major asset prices. Bitcoin has fallen 2.5% in the past 24 hours, with a trading price of approximately 13,392,000 KRW; Ethereum, on the other hand, plummeted 5.7%, dropping to the 4.47 million KRW range.
Bitcoin’s Short-Term Rally Slows Down
Analysts believe that this adjustment in Bitcoin is due to short-term profit-taking and institutional investors adjusting their positions. A Korean cryptocurrency exchange analyst stated, “Following recent gains, some investors seem to be taking profits.” Other interpretations point to large-scale trading activities, such as ETF fund flows, directly impacting the market.
Market experts predict that although Bitcoin still maintains an upward trend, volatility will continue in the short term. Macroeconomic factors like Federal Reserve monetary policy and ETF fund flows are expected to keep influencing Bitcoin prices.
Ethereum Affected by System Upgrade Uncertainty
Ethereum experienced a larger decline than Bitcoin, with its price dropping to 4.47 million KRW. Analysts believe this is related to market uncertainty surrounding the “Pectra” upgrade. Concerns include potential technical delays or issues during the upgrade process. Additionally, uncertainties related to Layer-2 solutions and staking regulations have also intensified price fluctuations.
A cryptocurrency analyst predicted, “The progress of technical upgrades and whether ETF-related regulations can be clarified will be major factors influencing Ethereum’s price volatility.”
XRP and Solana Show Diverging Trends
XRP fell 3.4% in 24 hours, with a trading price of about 2,824 KRW. It is expected that regulatory developments and institutional adoption news will continue to dominate its price movements. Conversely, Solana continued its upward trend, with analysts attributing this to increased project development and activity within its ecosystem boosting investor sentiment.
Market experts pointed out, “The technological development and ecosystem expansion of each token are significantly impacting their prices,” and explained that “Solana has recently gained upward support due to ecosystem expansion and increased developer participation.”
Regarding the outlook for the cryptocurrency market, experts believe that continuous institutional investment inflows and clearer regulatory environments will play a key role in long-term stability. As technological advancements and institutional changes occur, market reactions are likely to remain sensitive.
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