Bitcoin falls below $89,000 due to tariff policy impact

Source: DecenterKorea Original Title: ‘Greenland Tariffs’ Shockwave···Bitcoin Crashes Below $89,000 [DeCenter Market News] Original Link: https://www.decenter.kr/NewsView/2K7DZKONXG/GZ03

Bitcoin(BTC) experienced a 5% sharp decline within 24 hours, breaking below the $89,000 mark for the first time in about 20 days. This decline is mainly driven by the spread of risk aversion towards global risk assets, especially amid increasing uncertainty in international trade policies.

According to the latest data from global cryptocurrency data platforms, BTC is currently trading at $88,366.8, down 4.68% from 24 hours ago. Earlier this month, BTC recovered the $90,000 level but has since remained sideways, and this drop has pushed it back down to the $88,000 range.

Ethereum(ETH) also experienced a significant decline, falling 7.95% to $2,957.69. XRP dropped 4.95% to $1.888, and the mainstream exchange token(BNB) fell 3.57% to $890.32.

The domestic market shows a similar trend. Data from a leading exchange indicates that BTC fell 4.07% to approximately 131 million Korean Won, ETH dropped 6.99% to about 4.39 million Won, and XRP declined 4.09% to around 2,815 Won.

The recent decline in the cryptocurrency market is widely interpreted as a reaction to risks in international trade policies. Risk assets worldwide are under pressure, leading to a cautious investor sentiment.

Cryptocurrency market sentiment indicators show that the Fear and Greed Index dropped 12 points from the previous day to 32, approaching the extreme fear zone. An index close to 0 indicates extremely pessimistic investor psychology, while near 100 indicates excessive optimism. The current low reading reflects a significant increase in risk-averse attitudes among market participants.