[Young journalist Seoyoon Jung] Bitcoin, which had paused briefly after rising early in the year, has started increasing again.

As of 8:20am, Jan 9th, in crypto exchange Bithumb(빗썸), Bitcoin was being traded in 133.47 million won, which was raised by 1.45% from 24 hours earlier.

After an early-year rally, Bitcoin had briefly paused around 132 million won the previous day. Early this morning, Bitcoin showed a rebound after a short-term rest and is now increasing.

In dollar, the price has also turned back to $91,000. Although it briefly fell below $90,000, buying interest came in and the price quickly increased.

Major altcoins(알트코인) are also increasing. Ethereum(이더리움) has increased by 1.42%, Ripple(리플) has gained 2.10%, and Solana(솔리나) has risen by 3.63%.

Market analysts say the coin has decreased for a moment, and it was caused by less trading in the U.S. market the previous day, profit-taking, and weakened expectations for Federal Reserve rate cuts. However, the market later rebounded successfully as bargain buying emerged.

According to the cryptocurrency market comparison platform Cryprice, Bitcoin’s “kimchi premium” stands at 0.71% on the day. A positive kimchi premium means that Bitcoin is trading at a higher price in Korea than other countries.

The Fear & Greed Index, which shows sentiment in the cryptocurrency market, stands at 28, indicating a “Fear” level. The closer the index is to 0, the more scared the market is, increasing the likelihood of overselling. On the other hand, a reading closer to 100 suggests excessive greed and a higher chance of a market correction.

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