Bitcoin Drops to $83,000, Recovers to $86,000 [Crypto Briefing]

[Financial News] On the 2nd, Bitcoin (BTC) fell to the $83,000 level but has since rebounded to around $86,000.
According to global cryptocurrency information platform CoinMarketCap, as of 10 a.m. today, BTC was trading at around $86,000, down 0.55% from the previous day (24-hour basis). Over the past week, BTC has declined by 1.57%.
In the Korean won market, BTC is trading at approximately 130 million won. According to global crypto price comparison platform Cryprice, the Korea premium stands at 2.00%.
BTC had been hovering near $90,000 until the morning of the previous day but plunged to $83,000 at one point today. Afterward, bargain buying led to a recovery back to the $86,000 level.
Market observers believe the recent warning from the People’s Bank of China (PBC) against illegal activities related to cryptocurrencies has had an impact. The PBC recently issued a statement classifying cryptocurrency trading as illegal financial activity.
Analysts also note that widespread risk aversion among investors continues to influence the market. Zach Pandl, Head of Research at Grayscale Investments, stated, “Recent trading volumes have been relatively low, which reflects a diminished risk appetite among investors.”
At the same time, Ethereum was trading at $2,796, down 1.52% from the previous day. Ripple was at $2.02, a decrease of 2.16%.


yimsh0214@fnnews.com Im Sang-hyuk Reporter