Bitcoin (BTC) continues to decline daily due to profit-taking after reaching an all-time high. With the added uncertainty of the Trump administration's tariff policy, BTC has dropped to $105,000.
According to CoinMarketCap, a global virtual asset market site, as of 8 AM on this day, BTC was traded at $105,967.99, a 1.4% decrease from the previous day. At the same time, the altcoin leader Ethereum (ETH) recorded $2,646.97, down 0.13%. XRP was traded at the same price of $2.261 per coin. Solana (SOL) recorded $167.13, a 2.25% drop.
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At the domestic exchange Bithumb, BTC recorded 148,004,000 won, a 1.26% decrease from the previous day. ETH rose 0.03% to 3,697,000 won, and XRP is trading at 3,159 won, a 0.1% increase.
Experts analyzed that after BTC broke through $110,000 this week and reached an all-time high, selling pressure has increased. Axel Adler Jr., a crypto quant analyst, said, "The 30-day moving average SOPR indicator for BTC short-term holders has recently reached a peak. This means that short-term investors' realized profits have surged." SOPR is an indicator representing the average return of sold virtual assets. Crypto analyst Willie Wu also predicted, "If BTC fails to set a new high in a short time, adjustment due to profit-taking sales may continue."
The uncertainty of the Trump administration's tariff policy is adding downward pressure on virtual assets. According to foreign media, the US Federal Court of Appeals decided on the 29th (local time) to temporarily restore the cross-tariff measure of President Donald Trump, which was suspended by the first-instance court, during the appellate review period.
The Crypto Fear and Greed Index from virtual asset data analysis company Alternative.me rose 3 points from the previous day to 74 points, indicating a state of "greed". This index means that the lower the number is close to 0, the more investment sentiment is suppressed, and the closer it is to 100, the more it indicates market overheating.
- Reporter Kim Jung-woo
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