6,500-dollar Bitcoin has been fluctuating around the 63,000-dollar mark. The investment sentiment appears to have cooled due to increasing uncertainties stemming from stalled negotiations between the U.S. and Iran and rising international oil prices.
According to CoinMarketCap, as of 8 a.m. on August 12, Bitcoin was trading at $63,580, down 0.56% from the previous day.
After recovering to the $65,000 level on August 10, Bitcoin has since dropped back to the $63,000 range and has struggled to find clear upward momentum.
Major altcoins also showed little movement. At the same time, Ethereum rose 0.27% to $1,879.03, while Solana increased by 0.15% to $76.24. Ripple (XRP) was up 1.00%, trading at $1.02.
Market analysts suggest that the renewed tensions between the U.S. and Iran over the Strait of Hormuz have significantly dampened investor sentiment.
According to Reuters and Iran's state-run IRNA, Mohsen Rezaei, Secretary of Iran's Supreme National Security Council, stated on August 11 that the Strait of Hormuz will not reopen unless the U.S. changes its stance and accepts Iran's conditions.
Expectations for a swift agreement between the U.S. and Iran to normalize oil transport have weakened, leading to rising international oil prices. Brent crude, the global oil benchmark, rose 1.4% to $88.91 per barrel, while West Texas Intermediate (WTI) increased by 1.3% to $83.20. The S&P 500 energy sector index also jumped 1.1%.
Meanwhile, at the same time on the domestic exchange Bithumb, Bitcoin was trading at approximately 89,716,000 won ($63,470), down 0.19% from the previous day, breaking below the 90 million won mark. The so-called 'Kimchi premium,' where domestic prices are higher than international prices, was recorded at -0.18%.
According to CoinMarketCap, as of 8 a.m. on August 12, Bitcoin was trading at $63,580, down 0.56% from the previous day.
After recovering to the $65,000 level on August 10, Bitcoin has since dropped back to the $63,000 range and has struggled to find clear upward momentum.
Major altcoins also showed little movement. At the same time, Ethereum rose 0.27% to $1,879.03, while Solana increased by 0.15% to $76.24. Ripple (XRP) was up 1.00%, trading at $1.02.
Market analysts suggest that the renewed tensions between the U.S. and Iran over the Strait of Hormuz have significantly dampened investor sentiment.
According to Reuters and Iran's state-run IRNA, Mohsen Rezaei, Secretary of Iran's Supreme National Security Council, stated on August 11 that the Strait of Hormuz will not reopen unless the U.S. changes its stance and accepts Iran's conditions.
Expectations for a swift agreement between the U.S. and Iran to normalize oil transport have weakened, leading to rising international oil prices. Brent crude, the global oil benchmark, rose 1.4% to $88.91 per barrel, while West Texas Intermediate (WTI) increased by 1.3% to $83.20. The S&P 500 energy sector index also jumped 1.1%.
Meanwhile, at the same time on the domestic exchange Bithumb, Bitcoin was trading at approximately 89,716,000 won ($63,470), down 0.19% from the previous day, breaking below the 90 million won mark. The so-called 'Kimchi premium,' where domestic prices are higher than international prices, was recorded at -0.18%.
* This article has been translated by AI.
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