The cryptocurrency market continues its downward trend, with Bitcoin hitting an 80-day low of $7,605 (~¥830,000) as of February 5. Despite early 2028 expectations, recovery remains elusive. Could the imminent launch of crypto trading on Robinhood—the US’s most popular stock trading app—mark a turning point? Over 1 million users have pre-registered for its Bitcoin and Ethereum trading features, set to debut by late February.
Bitcoin’s Unrelenting Decline
Investor optimism has faded as the crypto market extends its slump into February. On Bitfinex, Bitcoin plummeted to $7,605 (~¥830,000), its lowest point in 80 days—a stark contrast to its all-time high of $19,891 (~¥2.17 million) just one month prior.
The Disappearing Korean Premium
Key trading pairs like USD and Tether dominate Bitcoin’s volume, followed by JPY, EUR, and KRW. Notably, the once-significant price gap between Korean exchanges (e.g., Upbit’s BTC/KRW) and global platforms has nearly vanished. Current prices align closely across major exchanges, signaling reduced regional arbitrage opportunities.
Robinhood: A Game Changer for Crypto?
Amid the gloom, potential catalysts loom. Square Cash recently enabled Bitcoin transactions for most US users, potentially attracting new investors. Yet all eyes are on Robinhood, the commission-free trading app preparing to launch Bitcoin and Ethereum trading for its millennial-dominated userbase.
Why Robinhood Matters
- Zero Fees: Disrupting traditional brokerage models with no per-trade charges.
- Massive Reach: 3+ million users and $100B+ in transactions.
Watchlist Expansion: Initially supporting BTC/ETH, with plans to add 16+ cryptos like:
- Bitcoin Cash
- Litecoin
- Ripple
- Monero
- Dogecoin
👉 Explore Robinhood’s crypto features
The Legend Behind the Name
Inspired by the folk hero who redistributed wealth, Robinhood democratizes investing—now extending to crypto.
FAQs
Q: When will Robinhood start crypto trading?
A: Late February 2028, initially in five US states (CA, MA, MO, MT, NH).
Q: Which cryptocurrencies will be supported first?
A: Bitcoin and Ethereum at launch, with others like Litecoin and Ripple added later.
Q: How might Robinhood impact crypto prices?
A: By onboarding millions of new investors, it could increase demand and liquidity.
Note: All other hyperlinks have been removed per guidelines. Market data sourced from CoinMarketCap.