2024.05.10
South Korean Crypto Trading Slumps as Bitcoin Falters Amid Fed Policy Uncertainty
Trading volume on South Korea's cryptocurrency exchanges has dropped by one-fifth in two months, now totaling 2.699 trillion won ($2.698 trillion) over the past 24 hours. This decline comes as Bitcoin hovers around $80 million, down from its peak of $100 million. On March 11, trading volume hit 12.99 trillion won, with Upbit leading at 81.2%. Since then, Bitcoin's price has fluctuated, influenced by factors like the US Federal Reserve's hawkish stance and lack of clear market drivers such as bitcoin halving and ETFs.
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