Bitcoin Declines, Ethereum Falls Even Sharper

With long-term Treasury yields remaining at excessively high levels, Bitcoin's price decline began in earnest yesterday during a live broadcast, described as an expected progression.

It was also suggested that this price adjustment was somewhat anticipated, given the excessively high long-term Treasury yields.

However, immediately after the purchase, articles reported that Bitcoin's price plummeted to $84,000 and then $83,000.

As the scale of long liquidations increased on the chart, Bitcoin's price showed a rapid decline.

At that time, the New York stock market also showed a downward trend, reflecting overall financial market instability.

This result is seen as partially alleviating market anxiety about a lack of demand for Treasuries before the auction.

Dealer purchases were low at 2.5%, suggesting that the Treasuries were absorbed relatively smoothly.

Following the successful U.S. 10-year Treasury auction, Bitcoin's price began to rebound.

However, the upward trend in U.S. Treasury yields persists, and a 30-year Treasury auction is scheduled for tomorrow at 2 AM, drawing significant market attention.

It was also noted that the buyers for 10-year and 30-year Treasuries differ, meaning the success of the 10-year auction doesn't guarantee a successful 30-year auction.

The majority of committee members maintained the opinion that one more interest rate hike would be appropriate by year-end, and some differing viewpoints among members regarding the reasons for the rate hike also emerged.

Currently, there is a high possibility of an interest rate freeze in October.

Ethereum plummeted by nearly 6% during the trading day, primarily attributed to a major investor, 'Tom Lee,' announcing he would not accumulate more than 5% of Ethereum's total supply.

Currently, Tom Lee holds 4.9% of Ethereum's supply and plans to cease accumulation once an additional 100,000 units are acquired.

Considering the weekly purchase pace, accumulation is expected to conclude within approximately five weeks, which suggests a potential increase in selling pressure around the termination date, similar to stock buyback scenarios.

The brothers are actively involved across the Zcash ecosystem, including donations to the Zcash development organization, mining operations, and investments in related companies.

Under the Enforcement Decree of the Act on Reporting and Using Specified Financial Transaction Information, anonymous transaction coins with high money laundering risks are restricted from circulation on domestic exchanges.

However, as privacy coins like Zcash achieve technological advancements, such as collaboration with institutional exchanges to provide transaction history, there's a growing industry call for domestic regulatory standards to be re-evaluated in line with these changes.

The deadline for closing the corporate merger between Naver and Dunamu has been postponed to March 31, 2025, later than originally planned.

The Fair Trade Commission is broadly collecting opinions from various stakeholders, including securities firms and fintech companies, for its review. It is also suggested that governance regulations under the future Digital Asset Basic Act may apply even after the merger is approved.

Banking sector security incidents and virtual asset-related policies are also emerging as key matters for the National Assembly's Political Affairs Committee.