Bitcoin Drops Below $90,000, Now Hovering Around $87,000 [Crypto Briefing]

[Financial News] On the 1st, Bitcoin (BTC) fell below the $90,000 mark and dropped to around $87,000.
According to CoinMarketCap, a global digital asset information platform, BTC was trading at approximately $87,000 as of 10 a.m., down 4.13% from the previous day (24-hour basis). Over the past week, BTC has risen by 0.62%.
In the KRW Market, BTC is trading at around 130 million won. According to Cryprice, a global digital asset market comparison platform, the Korea premium is 2.18%.
BTC dropped to around $81,000 on the 21st of last month, but regained the $90,000 level starting from the 28th. On the 29th, it even briefly reached $92,000.
After maintaining the $90,000 level, BTC fell to around $87,000 at about 9 a.m. today. The decline appears to be due to large-scale profit-taking after a rebound fueled by expectations of a Federal Reserve System (Fed) rate cut this month.
Some analysts also point to comments from Michael J. Saylor, chairman of Strategy, known as the world's largest corporate holder of BTC, as a contributing factor. On the 30th of last month (local time), Saylor posted on his personal social media, 'How about adding a green dot?' Some interpret the 'green dot' as a signal to sell BTC.
At the same time, Ethereum was trading at around $2,843, down 5.13% from the previous day. Ripple was down 4.29%, trading at approximately $2.06.


yimsh0214@fnnews.com Im Sang-hyuk Reporter