The cryptocurrency market as a whole is weak, with major cryptocurrencies all declining. In particular, the possibility of a technical crash in Bitcoin is drawing market attention.
Bitcoin (BTC) is currently trading at approximately 12.75 million Korean won, down about 2.37% from 24 hours ago. Veteran trader Peter Brant warned that "Bitcoin's parabolic uptrend has collapsed," and analyzed that this collapse could lead to a deeper correction. He predicts that in the worst-case scenario, Bitcoin could fall to around 2.5 million Korean won.
Ethereum (ETH) is currently trading at approximately 4.41 million Korean won, down 2.49% from 24 hours ago. Ripple (XRP) is trading at approximately 2,823 Korean won, down 3.44%, which analysts attribute to its synchronized decline due to the overall market downturn. There are no major news events; deteriorating liquidity and shrinking investor sentiment are the main factors contributing to the price drop.
Solana (SOL) is trading at approximately 187,499 Korean won. Although it is trending downwards along with other major Altcoin, it is maintaining a relatively strong performance due to robust development activities and user growth.
Experts emphasize that technical analysis is crucial for determining whether the current market weakness is a temporary correction or the beginning of a downtrend. Whether Bitcoin can hold its major support level appears to be a key factor in determining the future market direction.
Given the high volatility of the market, investors should develop investment strategies from a long-term perspective and avoid being swayed by excessive panic.
TokenPost AI Notes
This article uses a language model based on TokenPost.ai for article summarization. The main content may be omitted or may differ from the facts.
