Bitcoin still under ‘Warsh shock,’ falls to around $76,000 [Crypto Briefing]

[Financial News] Bitcoin on the 4th has yet to shake off the shock from former Federal Reserve System (the Fed) Governor Kevin Warsh being floated as the next Fed chair, and is trading around the $76,000 level.
According to global crypto data platform CoinMarketCap, Bitcoin was trading around $76,000 as of 10:30 a.m. that day, down 2.77% over the previous 24 hours. Over the past week, Bitcoin has fallen 14.09%.
In the KRW market, Bitcoin is trading around 113 million won. Based on data from global crypto market comparison platform Cryprice, the Korea premium stands at 1.96%.
Bitcoin appears unable to escape the recent “Warsh shock” that rattled the market. Earlier, President of the United States Donald Trump named former Fed Governor Warsh, known for his hawkish stance favoring monetary tightening, as his pick for the next Fed chair.
Global stock markets briefly turned lower on the news but soon recovered. On the 3rd (local time), the Dow Jones Industrial Average and the S&P 500 (Standard & Poor's 500 Index) both hit intraday record highs.
The crypto market, however, is struggling to rebound. Analysts note that, unlike equities where earnings improvements can support higher prices, digital assets are highly sensitive to global liquidity conditions.
Choi Yoon-young, a researcher at Hanwha Investment & Securities, said, "Bitcoin staged a strong rebound last month, recording the largest inflows since October last year, but then plunged on concerns over a Greenland trade war and the hawkish stance of the leading Fed chair candidate."
The CoinMarketCap Crypto Fear and Greed Index stood at 14 that day, indicating "extreme fear," down from 17 the previous day. The index ranges from 0 to 100, with readings closer to 0 signaling extreme fear and those near 100 interpreted as extreme greed.
At the same time, Ethereum was trading around $2,275, down 2.90% from the previous day. Ripple (XRP) was around $1.59, a decline of 0.70%.

yimsh0214@fnnews.com Reporter Lim Sang-hyuk Reporter