[Breaking News] Bitcoin Falls Below $120 Billion as U.S. Stock Market Weakens Investor Sentiment

# Bitcoin Falls Below 100 Million KRW, Weakness Mirrors U.S. Markets Bitcoin (BTC) has dropped below 100 million KRW, showing a bearish trend alongside U.S. stock markets. The overall decline in the stock market appears to have impacted the digital asset (virtual asset) market. As of 8:40 AM on the 11th, on the domestic digital asset exchange Upbit, Bitcoin was trading at 100,834,000 KRW, down 2.28% (2,760,000 KRW) compared to 9 AM the previous day. During the same period, on the global digital asset data platform CoinMarketCap, Bitcoin was down 2% over the past 24 hours, trading at $79,244. According to CoinGlass, Bitcoin saw liquidations of approximately $267.81 million (approximately 390 billion KRW) over the last 24 hours, with about 72% of these being long (buy) positions. The total liquidation amount for all digital assets during this period reached approximately $764.76 million (approximately 1.15 trillion KRW). Over the past week, Bitcoin has fallen about 8%, dropping below $80,000 and at one point threatening the $78,000 level. This marks a four-month low and reflects the recent weakness in the digital asset market. A report by CoinShares indicated that last week alone, $876 million was withdrawn, marking the fourth consecutive week of net outflows. As a result, total assets under management (AUM) in digital asset investment funds decreased by $3.9 billion to $14.2 billion (approximately 20.7 trillion KRW). The dip in the digital asset market was accompanied by a concurrent decline in the stock market, further weakening investor sentiment. On this day, the S&P 500 and the Nasdaq Composite Index fell by 2% and 3.5%, respectively. Financial market analysis firm The Kobayashi Letter analyzed that “reduced government spending in the U.S. has impacted economic growth.” Digital asset trading firm QCP Capital commented, "Until the digital asset market finds new upward momentum, it is likely to continue showing weakness in tandem with stocks," adding, "Market volatility could increase further based on the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) to be announced this week." The CPI and PPI are scheduled for release on the 13th and 14th, respectively. Alongside Bitcoin’s decline, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, also continued its downward trend. According to CoinMarketCap, Ethereum was trading at approximately $1,875, down 7.28% over the past 24 hours. As a result, around $200 million (approximately 290 billion KRW) worth of Ethereum positions were liquidated in the futures market. Marcel Pechman, an analyst at CoinTelegraph, stated, “While the upcoming Pectra upgrade could improve user experience, unless issues with liquidity and accessibility among Layer 2 solutions are resolved, it will be difficult for Ethereum to regain market share.” Meanwhile, the Alternative Fear & Greed Index, which measures investor sentiment in the digital asset market, fell to 20 points (extreme fear) from the previous day’s 27 points. The Alternative Fear & Greed Index indicates that the closer the score is to 0, the stronger the selling trend among investors, while a score closer to 100 suggests a higher buying inclination.