Bitcoin Falls Below 93 Million Won, but Upbit’s Newly Listed Seeker and Espresso Surge

▲ [Photo] Upbit Logo ©

As leading cryptocurrency Bitcoin (BTC) and other major altcoins continue to struggle, newly listed coins on domestic exchange Upbit are soaring alone, creating a stark contrast in market sentiment. Amid persistent macroeconomic uncertainty, capital from wary investors appears to be concentrating on highly volatile individual tokens, illustrating a typical niche rally within a broader bear market.

As of 5:22 p.m. on the 24th, according to Upbit data, Bitcoin was trading at 92.93 million won, down 2.54% from the previous day, slipping below the 93 million won level. Ethereum (ETH) also fell 2.04% to 2.683 million won, XRP declined 2.11% to 1,952 won, and Solana (SOL) dropped 1.57% to 113,000 won. Dogecoin (DOGE), a leading meme coin, likewise fell 2.19%, reflecting the overall market downturn.

The prolonged weakness in major cryptocurrencies stems from unresolved macroeconomic headwinds, including recent fears of a collapse in the artificial intelligence (AI) industry and the Trump administration’s global tariff measures. Extreme fear dominating the broader market has encouraged investors to remain on the sidelines, freezing buying sentiment.

In contrast to the frozen blue-chip tokens, newly listed coins on Upbit are emitting explosive gains, absorbing market liquidity like a black hole. Newly listed Seeker (SKR) surged 42.69% from the previous day to 37.1 won, leading the gainers. Another new listing, Espresso (ESP), jumped 17.58% to 301 won. Steam (STEEM) also soared 33.23%, highlighting how speculative capital seeking short-term profits in a declining market is aggressively concentrating on high-profile altcoins.

The outlook for the crypto market remains precarious. With Bitcoin failing to find a clear rebound momentum and continuing to face downward pressure, a broad trend reversal appears unlikely without stabilization in macroeconomic indicators or resolution of policy uncertainties. Experts warn that the sharp rallies centered on newly listed coins on exchanges like Upbit resemble temporary “listing pumps” typical of liquidity-dried markets, cautioning that hasty chase buying could result in substantial losses due to extreme price volatility.

*Disclaimer: This article is for investment reference purposes only and the publisher is not responsible for any investment losses incurred based on its content. The information provided should be interpreted solely for informational purposes.*