Bitcoin drops to around 137 million KRW... Astar down 3.4%, XRP down 4.9%

Source: BlockMedia
Original Title: [Coin Market Update] Bitcoin Drops to 137 Million KRW Range… Astar Down 3.4%, XRP Down 4.9%
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On the 5th, Bitcoin saw a slight drop to the 137 million KRW level. With the US stock market ending mixed overnight, digital asset and virtual asset prices also showed a slight stagnation.

As of 8:15 AM on this day, Bitcoin (BTC) on the domestic digital asset exchange Upbit is trading at 137,750,000 KRW, down 0.81% from 24 hours ago. The Korea premium stands at 1.15%.

Bitcoin Slightly Down… Larger Drops for ASTER and XRP

Previously, following comments from former President Donald Trump regarding the next US Federal Reserve (Fed) Chair and the release of employment data, the likelihood of a rate cut increased, causing previously plunged prices to recover sharply. The subsequent drop in unemployment figures further fueled expectations for rate cuts, leading to additional gains in digital asset prices. However, after that, the upward momentum did not continue, and prices dropped slightly on this day.

At the same time on global exchanges, Bitcoin is trading at $92,368, down 1.43%. Ethereum (ETH) is down 1.52% at $3,140, Coin is down 1.88% at $901, XRP is down 4.98% at $2.09, and Astar (ASTER) is down 3.45% at $1.04.

Long Positions Liquidated, 75% More Than Shorts… Longs Still Dominate

Digital asset and virtual asset prices had continuously declined until two days ago but started to rebound the next day, maintaining that trend for two consecutive sessions. However, prices turned slightly downward on this day. As a result, more long (buy) positions betting on a price increase have been liquidated.

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According to Coinglass, $184.26 million worth of long positions have been liquidated in the past 24 hours. This is 75% more than the $104.98 million in short positions. The largest amount liquidated was in Ethereum (ETH) at $105.8 million. Bitcoin (BTC) also saw $94.91 million in liquidations.

Despite this, expectations for further increases remain. Over a four-hour period, long positions decreased by 43.21% to $645,000. This is more than the short positions, which decreased by 46.85% to $607,000. According to global exchange data, top whale investors have a long-to-short ratio of 1.85, indicating a dominance of long positions.

“Index Direction Lacking This Week Due to Wait-and-See Sentiment”… Fear & Greed Index Still in “Fear”

A securities researcher said, “The three major US stock indexes in New York showed little change and ended mixed overnight. Ahead of a series of events next week, indices are likely to lack direction this week due to a wait-and-see sentiment.”

Meanwhile, the Fear & Greed Index, which reflects investor sentiment in the digital asset market, dropped to 26 points (“Fear”) on this day, lower than the previous day. The Fear & Greed Index indicates that the closer the score is to 0, the stronger the selling pressure, and the closer it is to 100, the stronger the buying tendency.