Bitcoin, which had soared due to US President Donald Trump's remarks on pursuing a virtual asset stockpiling strategy, has plunged in a single day.
As of 9 a.m. on the 4th, Bitcoin recorded 13,094 million won on the domestic virtual asset exchange Upbit. It was traded at 13,011 million won on Bithumb. The virtual asset ticker site CoinMarketCap showed $86,204. Bitcoin also threatened the $85,000 level that day. Compared to the price that had soared up to $95,000 the previous day, the price fluctuated by about $10,000 in a single day.
President Trump posted on his social media platform 'Truth Social' that he had instructed a working group to pursue a virtual asset stockpiling strategy through an executive order on digital assets, and that Bitcoin, Ethereum, XRP (Ripple), SOL (Solana), and ADA (Cardano) would be included in the strategic stockpile of virtual assets.
President Trump's remarks led to a rally in the virtual asset market. Bitcoin, which had once collapsed below the $80,000 level, soared to over $95,000. However, the upward trend ended in just a day, and Bitcoin is now plummeting. The plunge today is interpreted as due to growing uncertainty as the Trump administration expands tariffs.
President Trump said he plans to impose a 25% tariff on Canada and Mexico from the 4th, and will also impose 'reciprocal tariffs' from June 2, foreshadowing the spread of a global trade war.
QCP Capital, a virtual currency trading company, said in a report sent to investors today that "virtual asset volatility is still high" and that "the demand for put options on Bitcoin and Ethereum is higher than the demand for call options until the end of March."
