Bitcoin fluctuates around $80,000; annual decline and closing probability increases

Source: DecenterKorea Original Title: Bitcoin Remains in the $80,000 Range Toward Year-End… “Possibility of Ending the Year with a Decline” [Decenter Market Report] Original Link: https://www.decenter.kr/NewsView/2H1X2FAB4I/GZ03

On the morning of the 29th at 8 a.m., data from domestic cryptocurrency exchanges showed that Bitcoin(BTC) decreased by 0.02% compared to 24 hours ago, trading at 128.03 million Korean Won.

Bitcoin has been fluctuating within the upper $70,000 to $80,000 range over the past two weeks. As the year-end approaches, the market lacks clear rebound momentum, and some analysts believe Bitcoin may close the year with its first annual decline since the beginning of the year.

According to data from global cryptocurrency market websites, at 8 a.m. on the 29th, BTC was up 0.36% compared to 24 hours ago, trading at $87,897.4. Ethereum(ETH) rose 0.55% to $2,949.67, Binance Coin(BNB) increased 2.14% to $859.73, Ripple(XRP) rose 0.22% to $1.867, and Solana(SOL) increased 0.16% to $124.15.

The domestic market shows a similar trend. Data from domestic exchanges indicate that BTC decreased by 0.02% compared to 24 hours ago, at 128.03 million Korean Won, ETH increased by 0.21% to 4.298 million Korean Won, and XRP decreased by 0.04% to 2,722 Korean Won.

As cryptocurrency volatility continues, some believe that BTC may become the first year-end decline since the halving. A well-known analyst stated, “For BTC to close the year with an increase, it needs to rebound within the remaining 3 days, requiring a 6.24% increase.”

Investor sentiment toward cryptocurrencies remains in a state of “extreme fear.” The Crypto Fear & Greed Index from a data analysis firm stands at 24 points, up 1 point from the previous day. The closer the index is to 0, the more negative the investor sentiment; the closer to 100, the more overheated the market.