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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The Kingdom of Bhutan may have already stopped Bitcoin mining, and hydropower has shifted to selling electricity to India.
After the Kingdom of Bhutan sold 70% of its Bitcoin holdings, it may have stopped or slowed Bitcoin mining, and due to economic pressure it has used more hydropower for exports to India. By contrast, El Salvador has been increasing its Bitcoin holdings.
GateNews20m ago
Bitcoin and Ether ETFs Add Combined $443 Million in Strong Inflow Day
Crypto ETFs staged a strong rebound, with bitcoin and ether both returning to solid inflows. XRP slipped modestly, while Solana activity remained absent.
Key Takeaways:
Bitcoin ETFs saw $358.17 million inflows on April 9, led by Blackrock IBIT, restoring momentum.
Ether ETFs added $85.19 millio
Coinpedia33m ago
A certain CEX saw its market value shrink by more than 50% this year and cut 30% of its workforce. It is reportedly considering converting the founders’ loans into equity.
A major cryptocurrency exchange’s market value has fallen by more than 50%, it has laid off 30% of its staff, and it is considering asking the founders to forgive several hundred million dollars in loans. It lost $585 million last year, plans to exit multiple markets, and senior executives have stepped down. The Winklevoss brothers have not yet said whether they support the proposal.
GateNews1h ago
Bitcoin Depot Discloses $3.6M BTC Theft After Hack on Settlement Accounts
Bitcoin Depot reported a security breach where hackers stole 50.9 BTC, worth approximately $3.6 million, by compromising internal settlement account credentials. This incident highlights vulnerabilities in crypto companies' operational infrastructure, emphasizing the need for enhanced security measures.
CryptoNewsFlash2h ago
The U.S. government transferred 2.4 Bitcoins to a certain CEX address.
Gate News update, April 11, according to Arkham data, about 8 hours ago the U.S. government address transferred a total of approximately 2.438 BTC to a certain CEX address in two transactions, of 0.46 BTC and 1.979 BTC, respectively. The related funds belong to the Bitcoin that was previously seized by law enforcement from Glenn Olivio.
GateNews3h ago
