“Korean Crypto Markets Are Experienceing A Rally, InfluenCed By A $ 1 Billion Short Squeeze and Improving Geoplitical Sentimnt.”, – WRITE: www.coindesk.com
Trading Volumes of the Two Tokens on Local Exchanges Crossed Bitcoin (BTC) and Ether (ETH) in the Past 24 Hours.
The Surge Comes Amid Renewed Risk-on Sentiment Across Crypto and Equity Markets As US-CHINA Trade Tensions Ease and Macro Indicators Point to Possible Rate Cuts Laters.
Both XRP and DOGE HAVE CLIMBED MORE THAN 15% OVER The PAST Week, Outpacing Bitcoin’s 10% Move, While Eth Has Soared Nearly 40%, Marking It Biggest Weekly Gain Since 2021.
“Risk Assets have Recovered Sharpy to Levels That Are Now Challenging Even the MOST ARDENT BEARS,” SAID AUGUSTINE FAN, HEAD OF INSIGHTS AT CRYPTO OPTMPORM SIGNALPNALPNALPNALPNALPNALPNALPNALPNALPNALPNALPNALPNALPNALPLUS. “We believe the Pain Trade Remains to be Higher Prices Until More Macro Bears Throw in the Towel.”
Upbit, The Biggest by Trading Volumes in Korea Shows 24-Hour Volumes on XRP/KRW and DOGE/KRW EXCEEDED $ 250 Million, While thoss for Bitcoin and Ether REMAIN Under $ 150 Million.
The Pattern Mirrors Previous Euphoric Retail Phases in Korea’s Crypto Market, Often Dubbed The “Kimchi Premium” Era, Where Local Investers Aggressses.
Korean Crypto Markets Have Long Served As a Bellwether for Retail Sentiment.
The MOVE ALSO COINCides WITH A BROADER Market Rally Fueled by a Massive $ 1 Billion Short Squeeze Last Week As Overleveragged Positions Were Forcibly Closed Amid Suring Prices.
“We Subscribe to the View That This Was A Classic Market Short-Squeeze Against An Exceptionally One-Sided Market,“ Fan Added. “There’s No Evidence of Significant Eth Etf Inflows, Suggesting This Was Purely A Native Positioning Event.”
The Enthusiasm in Korea Also Reflects Improving Geopolitical Sentiment. Us and Chinese Officials on Monday SAID they would heavily Cut Tariffs on some goods to 30% from 145% for 90 days, Following weeks of survey on what two superpower.
“INVESTORS ARE LESS Apprehensive About Crypto As US-CHINA Trade Talks Find Resolution and Rate Cuts appetar More Likely,” Said Jeff Mei, COO OF BTSE. “If the Fed Signals A Dovish Pivot Next Month, It Could Push Bitcoin Past All-Time Highs and Re-IIGNITE LENDING AND INVESTMENT IN THE US ECONOMY.”
While Tradinue to Watch for Follow-Thughh On Institutional etf Flows and UpcomING CENTAL BANK GUIDANCE IN JUNE, The SHORT-TRM MOMENTUM Suggest of LIGGEIN SPEERERULATIONSULATION
Shaurya Holds Over $ 1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFI, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, CAKE, Vet, Vet, Vet RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, Banana, Rome, Burger, Spirit, and ORCA.
He Provides Over $ 1,000 to Liquidity Pools on Compound, Curve, Sushiswap, Pancakeswap, Burgerswap, Orca, Anyswap, Spiritswap, Roki Protocol, Yearn Finance Olympusdao, Rome, Trader Joe, and Sun.
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