Bitcoin exceeded $100,000 again in two days due to the prospect of a rate cut

Bitcoin is a representative liquidity sensitive asset that is greatly affected by interest rates. After the emergency martial law crisis, the trend of 脫

Bitcoin rose above $100,000 again on Thursday, helped by hopes of a rate cut, while the trend of shifting funds to stablecoins is also gathering pace in the domestic cryptocurrency market.

Bitcoin was trading at $10,618 on the world's largest exchange Binance at 3 p.m. on the 12th. Bitcoin, which fell to the $94,000 line on the 9th, rose above $100,000 again in two days.

This is because expectations for a rate cut have grown as the U.S. consumer price index (CPI) for November met forecasts. The U.S. stock market and risky assets such as Bitcoin all rose at once.

Recently, funds are pouring into the virtual asset market. According to DeFiLlama, a virtual asset analysis company, the market capitalization of stablecoins reached a new all-time high of $201.8 billion on the same day. This is a 54.75% increase from the $130.4 billion recorded earlier this year.

Bitcoin Spot Exchange Traded Fund (ETF) is also leading the rise of the virtual asset market. A net inflow of $223.1 million was made to 11 Bitcoin spot ETFs listed on the U.S. stock market on the 11th (local time). ETFs have recorded net inflows for 10 consecutive trading days.

On the other hand, demand for de-Korea is increasing in the domestic coin market. The transaction value of stablecoins on the domestic coin exchange has already exceeded 11 trillion won this month.

Stablecoins are coins with a fixed price of $1 each. With this trend, it is expected to easily exceed the 16.17 trillion won recorded last month by the end of this month.

In particular, stablecoin transactions increased significantly before and after the emergency martial law crisis on the 3rd. The week before the martial law incident was traded at an average of 728.4 billion won per day, but since then, it has traded at an average of 1.222 trillion won per day.

It is interpreted that the demand to use overseas exchanges that can be traded regardless of the unstable domestic political situation has increased. In addition, as domestic coin exchanges have recently increased their number of new listings, the demand for stablecoins seems to have surged as more investors seek arbitrage transactions with overseas exchanges.