Upbit Coin Order Book Revived on Trump's Statement

▲ On Trump's word, Bitcoin, XRP rebound... Upbit market revived / AI generated image ©

Driven by U.S. President Donald Trump's surprise announcement of an indefinite extension of the Iran ceasefire, the frozen domestic virtual asset market has achieved a dramatic rebound. As geopolitical risks eased, the suppressed risk asset preference sentiment is exploding.

As of 2:30 PM on the 22nd, on the Upbit KRW market, the No. 1 domestic virtual asset exchange, the leading cryptocurrency Bitcoin is trading at 115,471,000 KRW, a sharp rise of 2.14% compared to the previous day, leading a strong upward trend. Ethereum, the leading altcoin, also recorded 3,540,000 KRW, up 2.64%, adding vitality to the market. XRP (Ripple) and Solana, major top market cap cryptocurrencies, also settled at 2,153 KRW, up 1.41%, and 130,100 KRW, up 2.04% respectively, all showing positive gains.

The Upbit Composite Index (UBMI), which shows the overall trend of the virtual asset market, rose 1.85% to 11,758.00, and the Altcoin Index (UBAI) rose 2.06% to 3,177.94, proving the bullish market spread across the entire market. The recovery in investor sentiment is also clearly visible in the increased trading volume. According to statistics from the virtual asset market data provider CoinGecko, Upbit's 24-hour trading volume increased by 4.5% compared to the previous day at the same time, indicating that substantial funds are flowing back into the market.

The main driving force behind this sharp rebound is the easing of war fears originating from the Middle East. Investor sentiment, which had been suppressed as the second round of peace talks between the U.S. and Iran faltered, was completely reversed when President Trump declared an 'indefinite extension of the Iran ceasefire'. With extreme escalation scenarios ruled out, investors who had maintained a strong wait-and-see attitude due to anxiety are believed to have shifted to aggressive buying.

Moving forward, the market is expected to seek further upward rallies, leveraging the macroeconomic positive of the ceasefire extension. Having overcome the major hurdle of geopolitical uncertainty from the Middle East, investors' attention is once again shifting to internal drivers such as the intrinsic fundamentals of virtual assets and institutional capital inflows through spot Exchange Traded Funds (ETFs). However, as variables remain until a complete peace agreement is reached, a flexible investment strategy that maintains a positive trend while preparing for unexpected issues is required.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*