Bitcoin, which exceeded $80,000 in three months, fell back to $70,000 in one day.Although expectatio..

Bitcoin, which exceeded $80,000 in three months, fell back to $70,000 in one day.

Although expectations for easing regulations on virtual assets in the U.S. and inflows of institutional funds pushed up the market, analysts say that it depends on the direction of U.S. prices and monetary policy to settle at around $80,000 as it has risen steeply in a short period of time.

According to CoinMarketCap on the 26th, Bitcoin was traded at $79,0244.44 as of 9:17 a.m. (Korea Standard Time). It fell from the $80,000 mark recorded during the day before, but is up 0.35% from 24 hours ago.

Earlier, Bitcoin surpassed 81,000 dollars during the previous day (Korea Standard Time) and soared to 81,237.94 dollars. It is the first time since mid-May that Bitcoin has exceeded $80,000. Until the middle of this month, it had been sideways at around $60,000 and then rose to around $80,000 in a short period of time. The rate of increase over the past week has reached about 23%.

Several factors overlapped with this surge. First, expectations grew that regulations related to virtual assets could become clearer in the United States.

The U.S. Securities and Exchange Commission (SEC) announced on the 18th (U.S. local time) the Regulation Crypto Assets, which contains specific criteria to be applied to the process of issuing and financing virtual assets under the current securities law.