Bitcoin, 'Black Monday' Following Recession Fears

BTC, Experiencing Selling Pressure and Futures Market Liquidation on the 7th Morning
Declining Despite Low-Price Buying Amid Asian Market Crash
'Risky Assets' Altcoins Showing More Severe Decline Than BTC
Experts Say "BTC Will Show Different Patterns from US Market"

The cryptocurrency market, including Bitcoin (BTC), experienced a 'Black Monday' due to the aftermath of Trump's trade war on the 7th.

Bitcoin immediately faced a fierce selling pressure, which, combined with massive futures market liquidation, dropped by about 7% in the morning.

According to on-chain analysis platform CoinGlass's data at 9 AM on the 7th, the total Bitcoin futures market liquidation reached approximately $1.2 billion (about 1.76 trillion won), with long bet liquidation at around $700 million (about 1.03 trillion won).

Bitcoin, which had rebounded to $79,000 with low-price buying in the morning market, declined again due to the Asian stock market crash.

Asian markets plummeted rapidly from market opening and closed with significant losses.

Japan's Nikkei 225 closed with a 7.83% decline, while Shanghai Composite Index dropped 7.34% and Hong Kong's Hang Seng Index fell about 12.55%. The domestic market was no exception, with KOSPI and KOSDAQ closing down approximately 5.57% and 5.25% respectively.

Amid the Asian market crash, Bitcoin further declined, falling to $75,000 by 4 PM.

Altcoins also weakened alongside Bitcoin's decline. Solana (SOL) dropped about 18%, while Binance Coin (BNB) fell about 10%, and Ethereum (ETH) declined about 6%.

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