Bitcoin plunged 5% in the aftermath of US financial authorities sanctions. It lost more than 10 million won in one day and is trading at around 28 million won.
As of 8:50 am on the 10th, on the domestic virtual asset exchange Bithumb, Bitcoin recorded 28.15 million won, down 2.43% from 24 hours ago. At the same time, it was traded at 28.13 million won, down 3.95% on Upbit. CoinMarketCap, a virtual asset market relay site, showed $21,811, down 5.03% from 24 hours ago.
Ethereum fell even more sharply. At the same time, Ethereum recorded 1.99 million won, down 4.08% from Bitsum, and 1.99 million won, down 5.18% from Upbit. On CoinMarketCap, it traded at $1,550, down 6.14%. Ethereum has the second largest market capitalization among altcoins (alternative coins), which are alternative virtual assets other than Bitcoin.
On this day, the virtual asset market, such as Bitcoin, seems to have slowed down in the movement of the US Securities and Exchange Commission (SEC). This is because the SEC has imposed sanctions on Kraken, the second largest cryptocurrency exchange in the United States.
According to Reuters on the 9th (local time), Kraken agreed to pay a fine of 30 million dollars (approximately 37.7 billion won) with the SEC for providing unregistered services. According to this allegation, the staking service that was in operation will also be terminated.
The New York stock market fell all at once, paying attention to corporate performance and remarks from Federal Reserve (Fed) officials. The Dow fell 0.73% and the S&P 500 fell 0.88%. The Nasdaq, which is known to be closely linked to the virtual asset market, plunged 1.02%.
Meanwhile, the ‘Fear/Greed Index’ compiled by Alternative, a global virtual asset data research company, recorded 48 points on the day, indicating a ‘Neutral’ level. This is a lower figure than the previous day (55, greedy). The index indicates that the market sentiment is closer to extreme fear as it approaches 0, and as it approaches 100, it means extreme optimism.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.