[Breaking News] Bitcoin Market: Investor Sentiment Dampened by Tariff War Concerns... Fluctuates Around 120 Million Won

# Global Investment Sentiment Dips Amid Prolonged U.S. Tariff War Global investment sentiment has taken a hit due to ongoing reports of U.S. tariff disputes. Bitcoin, reflecting this uncertainty, hovered around 120 million won, exhibiting a bearish trend with frequent fluctuations. As of 8:35 AM on the 14th, Bitcoin was trading at 120.22 million won on Upbit, a domestic digital asset exchange, marking a 2.93% decline from the previous day at 9:00 AM. Similarly, on CoinMarketCap, a global digital asset data platform, Bitcoin was down 2.84% over the past 24 hours to $81,130. According to Coinglass, Bitcoin saw liquidations totaling approximately $82.52 million (around 120 billion won) in the past 24 hours, with long positions making up about 66% of this amount. The overall liquidation value in the digital asset market during this period reached around $219.60 million (approximately 319.5 billion won). In a significant announcement on the 14th, U.S. President Donald Trump warned via social media that, in retaliation to the European Union’s 50% tariff on American whiskey, the United States would impose a 200% tariff on all alcoholic products from EU countries. He also indicated plans to enforce reciprocal tariffs scheduled for implementation starting from the 2nd of next month, further escalating the uncertainty surrounding the tariff war. The expanding macroeconomic uncertainty has intensified the selling pressure, especially among short-term holders. According to Glassnode, investors classified as short-term holders (holding periods of 155 days or less) have sold 100,000 BTC since last month. This amounts to around $8 billion (approximately 11 trillion won), suggesting that investors are either minimizing losses or realizing gains by exiting the market. This selling pressure has driven Bitcoin below its 200-day moving average of $86,300, a critical indicator of long-term trends. Falling below this average often signals a greater likelihood of further declines. U.S. equities are experiencing a similar trend. The S&P 500 index, unable to surpass its 200-day moving average of 5,738 points, is now trading at 5,537 points. Market analysts believe that the failure to recover this level could lead to further declines. Joe Carlasare, a Bitcoin advocate, stated on social media, “If the S&P 500 fails to recover its 200-day moving average, it may fall further,” adding that Bitcoin is likely to exhibit a similar trend. Market attitudes towards the digital asset industry are also contributing to Bitcoin’s downturn. NH Securities analyst Hong Sung-wook noted, “The election of Donald Trump was initially expected to positively impact the digital asset industry, but in reality, it has returned all gains,” explaining that the market does not yet recognize the digital asset sector as a formal industry and perceives it as the most sensitive area when risk appetite weakens. He added, “Trump’s support provides only short-term political incentives for price rebounds without laying the groundwork for autonomous growth of the industry,” leading to a pattern of brief market upswings followed by declines whenever there are Trump-related developments. To change this perception, analysts argue that digital asset companies must prove themselves as a promising growth sector by leveraging the Trump administration's deregulation effects and the upcoming Stablecoin Act. Hong Sung-wook explained, “The digital asset industry needs to prove it is a sustainable growth sector, not just a speculative market. Attention should be paid to whether the Trump administration’s deregulatory policies and the Stablecoin Act can support this transformation.” Meanwhile, Alternative’s Fear & Greed Index, which indicates investor sentiment in the digital asset market, rose significantly to 45 (indicating fear) from the previous day's 34. The index suggests that the closer it is to zero, the stronger the selling pressure among investors, while nearing 100 indicates higher buying tendencies.