Bitcoin breaks through $94,000, XRP leads with a 12% increase

Source: DecenterKorea Original Title: Bitcoin recovers to the $94,000 range… XRP surges 12% [Decenter Market Update] Original Link: https://www.decenter.kr/NewsView/2K774242CT/GZ03

Bitcoin(BTC) has surpassed the $94,000 mark. XRP(XRP) led the altcoin rally with a double-digit increase.

According to the global virtual asset market overview, BTC rose 3.32% from the previous day to $94,171.25. Ethereum(ETH) is trading at $3,238.41, up 3.26%. XRP(XRP) surged 12.05% to $2.333, showing the largest increase among the top 10 market cap cryptocurrencies. Solana(SOL) increased by 3.53% to $138.65.

The domestic market showed a similar trend. BTC rose 0.47% from the previous day to 13,644,300 KRW. ETH is trading at 4,693,000 KRW, up 1.96%, XRP at 3,381 KRW, up 8.23%, and SOL at 201,100 KRW, up 2.55%.

Cryptocurrency-related stocks also rose in tandem with the price rebound. The stock price of a certain compliance platform increased by 7.77% from the previous day. Robinhood rose 6.97% to $123.24. Strategy added 1,287 BTC between January 1 and 4, and its stock price increased by 4.81%. As a result, Strategy’s BTC holdings increased to 673,783 coins.

There are also cautionary voices regarding the possibility of further BTC rebound. Some assess that falling interest rates and decreasing circulating supply on exchanges could create an environment conducive to price recovery. Long-term holders are storing BTC outside exchanges, reducing supply.

However, new tax reporting requirements and regulatory decisions related to cryptocurrencies in the US are seen as risk factors. Technically, if BTC can stably surpass $100,000, a new all-time high could be attempted, but if it fails to break this level, downward pressure may increase.

The fear and greed index of a virtual asset data analysis firm is at 26 points, indicating a ‘fear’ state. The index approaches 0 when investor sentiment is subdued, and nears 100 when the market is overheated.