Bitcoin Rises to 110.93 Million KRW as Upbit Futures Surges 70%

On the morning of September 19 at 7:30 AM, South Korea's cryptocurrency market showed renewed preference for risk assets. Total trading volume across Upbit and Bithumb reached 3.2 trillion won, with 54 out of 63 stocks exceeding 500 million won in trading volume rising—a gain rate of 86%. Major cryptocurrencies rose in tandem: Bitcoin climbed to 110.93 million won, up 5.2% from the previous day, while Ethereum reached 359 million won, up 6.5%.

The top gainer was Upbit-listed SynFuture, surging 70% to 7.53 won with a trading volume of 51.8 billion won. Gravity rose 57.7%, and StarNet climbed 51.9%. On the downside, Coti fell 19.6% and Traval fell 15.2%. By absolute trading volume, XRP (Ripple) led with 294.8 billion won, followed by Bitcoin at 192.4 billion won and Tether at 157.1 billion won. The top five assets accounted for approximately one-third of total market volume.

In derivatives markets, $609 million was liquidated over 24 hours, with long positions at 51.7% and short positions at 48.3%. Deribit Bitcoin options showed a put-call ratio of 0.57 based on trading activity, indicating more capital betting on price increases. Market sentiment improved as the Fear & Greed Index rose to 56 from 50, entering the 'greed' zone. The Kimchi Premium remained at -1.5%, meaning domestic prices are still lower than overseas rates.