As concerns over the U.S.-China trade conflict grow, virtual assets are falling across the board on the 11th. Bitcoin has once again fallen below $80,000, and Ripple has dropped more than 3.6%.
As of 8:20 a.m. on the 11th, Bitcoin is recorded at $79,569, down 3.97% from 24 hours ago on CoinMarketCap, a global cryptocurrency market tracking site.
Ethereum, ranked second by market capitalization, is trading at $1,521, down 8.17%, while Ripple, ranked fourth by market capitalization, is trading at $1.96, down 4.19%.
This is because the U.S. stock market plummeted sharply due to the escalation of the U.S.-China trade war. On that day, in the New York stock market, the Dow fell by 2.50%, the S&P 500 by 3.46%, and the Nasdaq by 4.31%.
Virtual assets are fluctuating significantly in the short term due to U.S. tariffs. The total market capitalization recorded $2.38 trillion on the afternoon of the 9th, hitting a five-month low, but surged by $270 billion (approximately 393 trillion won) within just 20 hours by the afternoon of the 10th.