Yesterday(2/17 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $52209, its lowest as $50940, its highest as $52594 its closing as $51612. After the start of Thursday, bitcoin began to decline without further gaining after the start of Thursday, perhaps due to the fatigue of the previous day's rise, and reached its low at 12:00, after which it rebounded and moved sideways around $52,000 to close -1.1% down.
Bitcoin dominance continued to decline from 63.2 on the previous day and fell to 61.4, in the meantime, Ethereum reached a new ATH of $1957 and Binance exchange token bnb rose endlessly, exceeding $200 to be the 4th in the crypto market cap rank. Like Ethereum's rise is due to the DeFi success, it is believed that DeFi boom on Binance Exchange played a big role in the surge of bnb price.
Only favorable news is still coming out in the crypto market. The Grayscale Fund added 1670 btc, increasing more than 1000 btc a day after a long time. And it is said that the first bitcoin ETF in North America was traded for the first time yesterday and recorded a trading volume of $80 million in an hour after it started. In this situation, I couldn't imagine what will happen if the US SEC approves the Bitcoin ETF. Another news is that In Nigeria, the Bitcoin is traded with premium of 52%, which means 1btc is $78,000. In other words, bitcoin cannot be bought even if people want to buy it in the market.
Regarding the last news, there was a time when Bitcoin reached $20,000 in early 2018, when the premium in South Korea was +50%, and this was called "Kimchi Premium". The situation after that was a -70% crash in 5weeks that everyone knows, and even though the Nigerian Central Bank ordered all financial institutions to close their cryptocurrency-related corporate accounts, the premium is very similar to the situation in South Korea at that time.
We can see that the Ethereum has been on the rise for ten days without a significant decline after starting CME Ethereum futures trading. It need take more time to determine whether this is definitely different from the crash situation after the Bitcoin CME futures trading at the end of 2017, so it is necessary to keep an eye on whether the +50% premium trading in Nigeria will also be different from the case of South Korea 3 years ago.