Bitcoin Sees 116 Million Won Recovery Amid Institutional Inflows and Rate-Cut Hopes

Bitcoin has made a significant recovery in recent weeks, rebounding to its 116 million won level after briefly dipping below 100 million won in February.

The cryptocurrency's upward trajectory is attributed to institutional inflows through US spot exchange-traded funds (ETFs), which have recorded net inflows for eight out of the past nine weeks. According to Crypto data provider SoSoValue, these funds have attracted $2.44 billion in net inflows this month alone.

Market research firm Tiger Research has set a 12-month price target of $143,000 for Bitcoin, citing record global liquidity, renewed institutional inflows, and expectations that the Federal Reserve will maintain its rate-cut stance after the impact of the Iran war eases. However, analysts caution that geopolitical tensions remain a risk to its price, as seen in past instances where Trump's comments have led to significant price fluctuations.