Bitcoin drops by 120 million KRW... ETF fund outflows trigger cryptocurrency market volatility

The cryptocurrency market continues to decline overall amid a tense atmosphere. Bitcoin(BTC) has fallen nearly 5% in the past 12 hours, with a current trading price of approximately 126.89 million KRW. Outflows from spot ETF funds and risk-averse sentiment are believed to be factors pushing up selling pressure.

The macroeconomic environment is strengthening Bitcoin’s status as a safe-haven asset in the medium term due to Federal Reserve quantitative easing and a weakening dollar, but negative short-term trends persist. Notably, large whale transfers of 2,188 BTC suggest major holders are adjusting their positions, adding to market volatility.

Ethereum(ETH) also shows weakness in line with the market trend. Currently trading at around 4.26 million KRW, it has recorded nearly a 9% decline in the short term. However, institutional whales accumulating about 100,000 ETH are seen as a positive signal from a long-term holding perspective.

Ripple(XRP) and Solana(SOL) have also failed to avoid downward trends. Ripple is currently trading at 2,702 KRW, with no major technical issues but affected by overall market risk-averse sentiment. Solana is trading at 177,000 KRW and is under additional downward pressure due to token unlock issues.

Recently, approximately 90 billion KRW worth of leveraged liquidations have occurred, contributing to volatility. Sharp price declines triggered forced liquidations, creating a feedback loop that further accelerates the price drop.

Additionally, the token unlock schedules of several projects are heightening investor caution. Projects like Pi Network and Humanity Protocol are becoming short-term risk factors for altcoins.

On the regulatory front, major countries such as Spain, Russia, and the United States are gradually releasing ETF-related regulations. While this is positive for integrating cryptocurrencies into mainstream financial systems, it has not yet translated into short-term price rebounds.

TokenPost AI Notice: This article uses a language model based on TokenPost.ai for summarization. The main content of the body may be omitted or may differ from actual facts.