On the 2nd, as Bitcoin plunges to the $70,000 range, a status board at the Bithumb Lounge Gangnam Main Branch in Seocho-gu, Seoul displays Bitcoin and other cryptocurrency transaction prices. /Courtesy of News1

The virtual asset market, which had fallen sharply after hawkish (currency tightening preference) Kevin Warsh was nominated as the next chair of the Federal Reserve (Fed) in the United States, has somewhat recovered but still has not regained $80,000.

As of 8:20 a.m. on the 3rd, according to CoinMarketCap, a global virtual asset market tracker, Bitcoin was trading at $78,641, up 3.13% from 24 hours earlier. That is down 10.82% from a week ago.

Ethereum, the No. 2 by market capitalization, is up 4.7% and trading at $2,343. Ripple is up 2.4% at $1.62, and Solana is up 5.64% at $104.63. It appears to have recovered some of the earlier losses following the U.S. New York stock market's higher close the previous day.

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