Bitcoin Reclaims 100 Million KRW on Upbit as XRP and Ethereum Lead Altcoin Rebound
Bitcoin Reclaims 100 Million KRW on Upbit as XRP and Ethereum Lead Altcoin Rebound
[Virtual Asset Market] “Retail Dip Buying Paid Off”... Bitcoin Dramatically Reclaims 100 Million KRW in Just Two Hours
After sliding to 97 million KRW during intraday trading, Bitcoin rebounded... Recovering to 100,015,000 KRW on Upbit. Major altcoins including XRP and Ethereum also turned upward... Berachain tops trading volume with explosive surge.
The fear of “Black Wednesday” swept over the market, but strong dip-buying pressure pulled Bitcoin back to the 100 million KRW mark. Panic selling emerged in the morning as the psychological support level briefly collapsed, but sidelined funds flowed in, viewing the drop as a buying opportunity, dramatically shifting market sentiment.
As of 10:30 a.m. KST on the 12th, data from South Korea’s largest virtual asset exchange Upbit shows Bitcoin (BTC) trading at 100,015,000 KRW, up 0.86% from the previous day. Earlier in the morning, Bitcoin fell to as low as 97.71 million KRW after breaking below the 99 million KRW level, but managed to recover all losses and rebound within just two hours.
◇ Major Altcoins Rebound Together... Linea Surges 11%
With the market leader’s return, warmth has returned to the previously frozen altcoin market. XRP (Ripple), a top market-cap token, rose 0.69% from the previous day to 2,040 KRW, reclaiming the 2,000 KRW level. Ethereum (ETH) also joined the rebound, climbing 1.08% to trade at 2,904,000 KRW.
Berachain (BERA), which drew attention due to its recent listing, recorded a massive trading volume of approximately 424.5 billion KRW, ranking first in overall trading activity. However, it fell 4.42% to 1,318 KRW amid profit-taking pressure. Meanwhile, Linea (LINEA) surged 11.25% to 6.03 KRW, standing out with strong gains despite the broader market downturn.
◇ Reclaiming 100 Million KRW Driven by “Learning Effect”... Volatility Remains
Market experts attribute Bitcoin’s rapid recovery primarily to dip buying driven by a “learning effect.” Investors who experienced sharp rebounds during past corrections reportedly recognized levels below 100 million KRW as strong buying zones. A technical rebound from oversold territory also appears to have contributed to the V-shaped recovery.
However, some caution that it may be too early to feel reassured. Although Bitcoin has reclaimed the 100 million KRW level, macroeconomic headwinds remain, including concerns that strong U.S. employment data could delay interest rate cuts. For the time being, a roller-coaster market is likely to continue, with intense battles between buyers and sellers around the 100 million KRW level.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses resulting from reliance on this information. The content should be interpreted solely for informational purposes.*
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