Major virtual assets are in a downward trend.
As of 8:05 am on the 11th, based on Bithumb, Bitcoin (BTC) recorded 11,893,200,000 won, down 0.37% from the previous day. At the same time, Ethereum (ETH) fell 6.47% to 2,821,000 won, XRP fell 1.98% to 3,066 won, and Solana (SOL) fell 1.43% to 178,600 won.
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The international market is also in a downward trend.
At the same time, on CoinMarketCap, BTC is trading at $79,502.74, down 1.30% from the previous day. ETH fell 6.75% to $1,880.00, XRP fell 4.13% to $2.053, BNB fell 3.66% to $534.47, and SOL fell 6.16% to $119.18.
The total market capitalization of virtual assets decreased by 2.76% from the previous day to about $2.57 trillion (about 374.96 trillion won). The Crypto Fear and Greed Index of alternative.me, a virtual asset data company, fell 7 points from the previous day to 20 points, indicating 'extreme fear'.
◆ Virtual assets also fell in line with the plunge in the New York stock market
As concerns about the US economy falling into recession have expanded, the three major indices of the New York stock market plummeted, and risk assets such as virtual assets have also deteriorated.
On this day, the S&P 500 index fell 155.64 points from the previous day to 4,614.56, and the Nasdaq index, which is centered on tech stocks, also fell 727.90 points, closing at 17,468.33.
CoinDesk analyzed that "after the announcement of President Donald Trump's executive order on BTC reserves, the short-term positive catalyst for the virtual asset market has been exhausted, and it is increasingly under pressure due to concerns about trade wars and economic slowdown."
QCP, a virtual asset hedge fund, said "the correlation between BTC and stocks is likely to increase in the short term until the virtual asset market finds a new upward narrative," and "both risk assets are currently trading near their lows, and volatility may increase as the US macroeconomic data is released, while tariff risks are still not materialized."
- Reporter Yeri Do
- yeri.do@sedaily.com
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