Bitcoin Tops 120 Million Won, Bull Market Entry Anticipated

Bitcoin prices have reached the 120.279 million won range. Bitcoin prices have been on an upward trend since early April. According to cryptocurrency news outlet NewsBTC, Bitcoin has formed a cycle bottom. As of 8:43 AM on the 11th, Bitcoin was trading at 120.279 million won per BTC, up 1.11%. At the same time, according to CoinMarketCap, it was trading around the $82,000 mark (approximately 119.96 million won). Following confirmation of the market cycle's low point, analyses suggest a potential transition into a bull market with rising prices.

Analyst Michael van de Poppe noted that Bitcoin's key resistance level is forming between $86,000 and $88,000 (approximately 125.81 to 128.74 million won). This range previously served as a major support zone from November last year to January this year.

On this day, on Upbit, Ethereum was trading at 3.472 million won per ETH, up 1.28%. XRP (Ripple) rose 3.06% to 2,156 won per XRP, and Solana traded at 141,300 won per SOL, up 2.91%. Conversely, Tether, USD Coin, Tron, and USDT were trading lower than 24 hours prior by 0.81%, 0.88%, 0.39%, and 0.61% respectively.