Bitcoin at one point surpassed $107,000 on this day and is currently trading in the $106,000 range. Starting this month, massive purchases by institutional investors are driving up Bitcoin prices.
According to global virtual asset market tracking site CoinMarketCap on the 21st, the Bitcoin price was $106,389 (about 148.39 million won) as of 7 a.m. that day. This is an increase of 0.87% compared to the previous day. At the same time, Ethereum was trading at $2,505 (about 3.5 million won), down 0.25% from the previous day.
The price of Bitcoin has risen by more than 25% in a month. Around 6 a.m. that day, it briefly exceeded the $107,000 mark. This month's Bitcoin rally is interpreted as being influenced by purchases from institutional investors. In May, $3.3 billion (approximately 4.6 trillion won) worth of cash flowed into Bitcoin spot ETFs.