Bitcoin support level test · XRP remains strong BTC ETH XRP SOL sideways pattern

The cryptocurrency market remains volatile after the Federal Reserve’s rate cut in the United States, with major coins showing mixed gains and losses. The overall market capitalization has slightly increased, but the trends of individual coins vary.

Bitcoin(BTC): Testing the 90 million KRW support level

Bitcoin is currently trading at approximately 133.96 million KRW, up 0.19% in the past 24 hours. It briefly fell below the 90 million KRW level during recent trading, testing psychological support. Technical analysis suggests that if the 90 million KRW level is broken, the price could further decline to the 88 million KRW range. Some analysts attribute the sharp decline to liquidation-driven sell-offs and advise long-term investors to monitor volatility and factors beyond news.

Ethereum(ETH): Weak performance compared to BTC

Ethereum’s trading price is around 4.58 million KRW, with a 24-hour increase of approximately 1.23%. This indicates relative weakness compared to BTC or XRP. Market interpretations suggest a lack of clear bullish catalysts and note that risk-off sentiment is influencing the market. Some experts mention that if the Federal Reserve continues its accommodative monetary policy, there remains a long-term possibility of recovery.

XRP: Strengthening on ETF and regulatory positive news

XRP is trading near 2,994 KRW, up 2.4% in the past 24 hours. The spot ETF for XRP recently surpassed $10 billion in assets under management, demonstrating rapid growth second only to Ethereum. Additionally, it received conditional approval from the U.S. Office of the Comptroller of the Currency for a national trust bank license, positively impacting its regulatory outlook.

Solana(SOL): Expansion of real asset tokenization cases

Solana’s trading price is approximately 196,000 KRW, with significant volatility. Bhutan launched a Solana-based gold token (TER), leading to an expansion of tokenization cases. However, in the short term, it still follows the weak market trend of Bitcoin and others.

Overall, the market is influenced by risk-off sentiment and macroeconomic trends, and different coins are expected to show divergent movements based on their specific factors.

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