Bitcoin(BTC) experiences a sharp decline due to the wave of large-scale leveraged liquidations and the threat of tariffs on European countries by former President Trump. Based on domestic exchanges, the current Bitcoin price is 13,124,000 KRW, down 3.3% in 24 hours, with a total decline of about 9% over the past 48 hours.
In particular, volatility has increased due to the liquidation of approximately 360 billion KRW worth of leveraged long positions within an hour, and investor sentiment has worsened. Over 24 hours, a total of 713 billion KRW in positions were liquidated, with Bitcoin-related liquidations reaching 243 billion KRW.
Additionally, 394.7 billion KRW flowed out of Bitcoin ETFs, exerting further pressure on the market. The cryptocurrency fear and greed index has fallen to 31, indicating investor unease. Analyst Peter Brant warned that Bitcoin could further decline to between 58 million and 62 million KRW. The options market also suggests a 30% probability that BTC will fall below 80 million KRW by the end of June, with downward pressure expected to continue.
Altcoins also show weakness. Ethereum(ETH) is currently at 4,370,000 KRW, down 6.48% in 24 hours. Although Ethereum ETFs saw a small inflow of about 4.6 billion KRW, it was not enough to halt the overall decline. Ethereum-related liquidations reached 2,694 billion KRW.
On the other hand, Solana(SOL) recorded 187,000 KRW, experiencing a significant drop amid the overall market sell-off. Analysts believe low liquidity contributed to the larger decline. Ripple(XRP) is trading at 2,791 KRW, down 3.06%, with no other major issues reported.
The recent crash in the cryptocurrency market is intertwined with global bond market instability, geopolitical risks triggered by Trump’s remarks, and capital flows into safe-haven assets like gold. Currently, gold prices are at $4,763 per ounce, reflecting investor demand for safety.
Experts believe that if global liquidity continues to tighten and macroeconomic uncertainties persist, cryptocurrency market volatility may also continue in the short term.
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