Major virtual assets are in a downward trend.
As of 8 am on the 17th, based on Bithumb, Bitcoin (BTC) is trading at 12,105,300 won, down 1.25% from the previous day. At the same time, Ethereum (ETH) recorded 2,766,000 won, down 0.90%. Solana (SOL) recorded 185,500 won, down 2.78%. XRP recorded 3,381 won, down 0.41%.
The international market also showed similar movements. At the same time, based on CoinMarketCap, BTC is trading at $82,152.57, down 2.66% from the previous day. ETH fell 3.42% to $1,877.39, XPR fell 4.56% to $2.29, and Binance Coin (BNB) fell 2.73% to $599.33. SOL fell 7.25% to $125.89.
The total market capitalization of virtual assets decreased by 2.72% from the previous day to about $2.69 trillion (about 391.26 trillion won). The Crypto Fear and Greed Index of alternative.me, a virtual asset data company, fell 16 points from the previous day to 30 points, indicating a 'fear' state.
◆ Bearish market continues after Trump's inauguration
The virtual asset market has been in a bearish market since the inauguration of former U.S. President Donald Trump. Although it has fluctuated due to the U.S. government's tariff policy and stock prices, it has not been able to escape the downward trend. Recently, no additional policies or plans were announced at the first virtual asset summit held at the White House, increasing investor disappointment.
Meanwhile, while the Donald Trump administration in the U.S. decided to stockpile Bitcoin as a strategic asset, the Bank of Korea has stated that it is not considering including Bitcoin in its foreign exchange reserves. The Bank of Korea responded to a written question from Rep. Cha Kyu-geun of the Patriotic Party, a member of the National Assembly's Strategy and Finance Committee, on the 16th, saying that "it is necessary to approach the inclusion of Bitcoin in foreign exchange reserves with caution." This is the first time the Bank of Korea has expressed its position on Bitcoin stockpiling. The Bank of Korea explained that "the price volatility of Bitcoin is very high" and that "there is a concern that the transaction cost will rapidly expand in the process of converting Bitcoin to cash if virtual assets become unstable."
- Reporter Shin Jeong-seop
- jseop@sedaily.com
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