With tech stocks showing weakness in the New York stock market, major cryptocurrencies including Bitcoin (BTC) are also unable to avoid decline. BTC has dropped more than 1%, falling to the $105,000 range.
According to CoinMarketCap, a global cryptocurrency market tracking site, as of 8 AM on the 2nd, BTC is trading at $105,671.14, down 1.39% from the previous day. Ethereum (ETH) recorded a drop of 3.63%, falling to $2,401.75.
XRP, which showed an upward trend the previous day, also declined by 3.88%, remaining at $2.17. Solana (SOL) traded at $146.93, showing the highest decline rate (5.36%) among major coins.
In the domestic market, while the decline is not significant, it is also showing a downward trend. At the same time on Bithumb, BTC is down 0.02% to 145,096,000 won. ETH is down 0.57% to 3,299,000 won, XRP is down 0.30% to 2,986 won, and SOL has dropped 0.15% to 201,500 won.
The decline is interpreted as being influenced by the drop in large tech stocks that had recently shown an upward trend in the New York stock market. Although BTC has shown signs of decoupling recently, it has generally shown a similar trend to tech stocks.
On this day, while the Dow Jones Industrial Average rose 0.91%, the S&P 500 fell 0.11%, and the Nasdaq Composite, which is centered on tech stocks, dropped 0.82%. Large tech stocks, in particular, showed an overall decline. Netflix fell 3.4%, NVIDIA dropped 2.97%, Microsoft and Google fell 1.08% and 0.27% respectively, and Tesla declined by 5.34%.
The Fear and Greed Index from cryptocurrency data analysis company Alternative.me remains in a 'greed' state at 64 points, down 2 points from the previous day. This index indicates that the closer it is to 0, the more investment sentiment is suppressed, and the closer to 100, the more market overheating is shown.
- Reporter Shin Jung-seop
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