As tensions between the U.S. and Iran show signs of easing, the prices of major cryptocurrencies, including Bitcoin, have risen. This increase is attributed to a recovery in risk appetite, fueled by falling international oil prices and optimism about a rebound in the U.S. stock market.
According to CoinMarketCap, Bitcoin was trading at $65,358 as of 8 a.m. on July 27, reflecting a 1.59% increase from the previous day.
The price of Ethereum rose by 3.90% to $1,949. Binance Coin (BNB) and Solana also saw gains of 1.09% and 2.90%, respectively, trading at $575 and $76. Ripple (XRP) increased by 1.11% to $1.11.
The easing of tensions between the U.S. and Iran has led to a slight reduction in the preference for safe-haven assets, allowing for a recovery in the appetite for riskier investments. Analysts suggest that the decline in global oil prices and a reduction in uncertainty in the financial markets have contributed to increased buying interest in major cryptocurrencies like Bitcoin.
As of 8 a.m. on the same day, Bitcoin was trading at approximately 95,147,000 won ($65,449) on the domestic exchange Bithumb, marking a 0.74% increase from the previous day. The 'Kimchi premium' stood at -0.389%, indicating that the price of Bitcoin in South Korea is lower than that in international markets.
* This article has been translated by AI.
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