Bitcoin fell nearly 4% in a single day, dropping to around $81,000. Amid a decline in U.S. tech stocks, investor sentiment towards risk assets weakened, leading to a broad decline in major altcoins such as Ethereum and Ripple.
According to global cryptocurrency market site CoinMarketCap, Bitcoin was trading at approximately $81,270 as of 8 a.m. on the 23rd, marking a 3.86% decrease from the previous day.
Major altcoins also showed weakness. Ethereum recorded a 4.12% drop to $2,381.55, while Ripple fell 4.84% to $1.31, and Solana decreased by 3.94% to $103.39. Dogecoin also saw a decline of 4.60%, trading at $0.07863.
The sharp decline in U.S. tech stocks has pressured cryptocurrency investment sentiment. On the 22nd, the Nasdaq Composite dropped 2.6%, marking its largest decline since early June, while the S&P 500 fell by 1.21%. Concerns over Tesla's lowered spending outlook and Lam Research's disappointing forecast weighed on the market. Meta reported its first cash outflow in a decade due to the impact of AI investments, causing its stock to plummet nearly 7%.
On the same day, Bitcoin was trading at 10,902,000 won on the domestic cryptocurrency exchange Upbit, down 2.64% from the previous day. The Kimchi premium, which indicates the degree to which Bitcoin is traded at a higher price in South Korea compared to overseas, stood at 1.09%.
* This article has been translated by AI.
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