Bitcoin holds near $65,000 as South Korea hikes rates for the first time in years

Bitcoin continues to trade near $65,000 — despite monetary headwinds from Asia. South Korea’s central bank raised its key interest rate by 25 basis points to 2.75 percent, the first hike in more than three years. The Bank of Korea points to inflation, which has climbed to 3.2 percent.

The Korean won strengthened after the decision. On local exchanges like Upbit, however, BTC trading against the won stayed remarkably calm — no sign of panic.

A side note worth watching: among US ETFs, it was the Ethereum funds that pulled in fresh money recently, led by BlackRock’s product, while Bitcoin ETFs mostly treaded water. Whether this rotation continues could become one of the more interesting market stories of the coming weeks.