**Testing $65,000 Support… Altcoins Also Weak**
[Seoul=Newsis] Song Hye-ri Reporter = As tensions rise following U.S. President Donald Trump’s announcement of an additional 10% tariff on all global exports to the U.S., with the possibility of increasing the global tariff rate to 15%, Bitcoin is still struggling to find a rebound opportunity.
As of 3:30 p.m. on the 23rd, Bitcoin is being traded at 96,199,000 KRW on the cryptocurrency exchange Bithumb, down 2.99% from 24 hours ago. The Bitcoin price maintained around 99 million KRW in the morning but dipped to about 94.68 million KRW at 10:30 a.m., extending the drop.
The decline in major altcoins is even more pronounced. Ethereum fell by 3.73%, Solana by 5.94%, and Ripple by 2.86%.
In terms of dollars, the weak trend continues, making it difficult to recover the $65,000 level. At the same time, Bitcoin is trading at $64,859, 4.59% down from the previous day.
Regarding this trend, the cryptocurrency specialist media CoinDesk analyzed that “The volume of realized losses by investors who recently purchased Bitcoin has reduced from $1.24 billion to about $480 million a day,” indicating that the sell-off phase is calming, but the market is likely still bottoming out.
They added, “Recent sell-offs are mainly driven by large holders, with an increase in altcoin deposits, expanded volatility, and decreased stablecoin inflow observed, suggesting that the buying power is weakening as Bitcoin tests the $65,000 support level.”
According to the cryptocurrency market comparison platform Cryprice, the Bitcoin “Kimchi Premium” stood at 2.18% on this day. A positive Kimchi Premium indicates that the Bitcoin price traded domestically is more expensive than overseas.
The Fear & Greed Index, indicating the sentiment in the cryptocurrency market, showed ‘Extreme Fear’ at a level of 5. The closer the index is to 0, the more fearful the market is, with a high likelihood of investors overselling. Conversely, if the index approaches 100, the market falls into greed with high chances of adjustments.