Bitcoin Boom: 100 Million Won Lump Sum Returns and a 1.14% Kimchi Premium – Is This the Start of a New Rally

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Bitcoin (BTC) temporarily returned $71,000 (about 100 million won).

As of 23:04 on the 31st, the BTC price is trading at $70,968 (KRW 99 million on Upbit Exchange), down 1.57% from the previous day on the Binance USDT market.

The US core personal consumption expenditures (PCE) price index for September, announced earlier today, slightly exceeded market expectations (2.6%). The number of new U.S. unemployment claims announced on the same day also fell below market expectations (229,000), showing that the labor market is still robust.

On this day, Bloomberg said, “The core PCE price index favored by the U.S. Fed recorded its largest monthly increase since last April,” and “This suggests that the Fed may slow down the rate of interest rate cuts after September’s big cut (0.5 percentage point cut).” ” he analyzed.

Meanwhile, according to CryPrice on this day, the kimchi premium for major virtual assets (cryptocurrencies) such as Bitcoin (BTC) is recording 1.14%.