Bitcoin Hits $50K Milestone Amid Global Trading Surge

    Bitcoin surges past $49K, eyes the $50K milestone amid global trading frenzy. Market dynamics, South Korea's premium rates, and the cryptocurrency's current worth are highlighted

    • Bitcoin Soars: Surpassing the $49K threshold, Bitcoin achieves a 3.7% daily increase and a remarkable 15.6% weekly rise.

    • Market Dynamics: Within an hour, $25.57 million in BTC short positions vanish as the cryptocurrency faces stiff resistance.
    • Global Impact: Bitcoin’s market cap nears $979 billion, constituting 52.9% of the entire crypto market.
    • South Korea Premium: In South Korea, Bitcoin trades at $50,665 on Bithumb, exceeding the global rate.

    Bitcoin Breaks $49K Barrier:

    Bitcoin (BTC) experienced an impressive 16.7% surge over the past week, reaching $49K on Monday. Within 45 minutes, it briefly touched $50,000 on Bitstamp, facing resistance.

    South Korea’s Elevated Rates:

    Notably, in South Korea, Bitcoin’s value surpassed $50K, hitting $50,665 on Bithumb. This premium rate echoes across platforms like Upbit and Korbit, marking levels unseen since December 2021.

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