Last night, the U.S. stock market fell, causing the cryptocurrency market to show signs of instability. In particular, Ripple, which is popular among Korean investors, fell by nearly 4%.
As of 7:50 a.m. on the 27th, according to the global cryptocurrency market tracking site CoinMarketCap, Bitcoin is trading at $86,989, down 0.63% from the previous day. Ethereum, the second-largest by market capitalization, is trading at around $2,004, down 2.85%. Ripple recorded a transaction of $2.34, down 3.85%.
The decline in the cryptocurrency market that day is attributed to the statement from the Donald Trump administration that it would impose tariffs on automobiles, leading to a sharp drop in the U.S. stock market. Despite the U.S. gaming distributor GameStop officially incorporating Bitcoin into its financial reserves, it has not reacted.