Major virtual assets are in a downward trend.
As of 8 am on the 14th, based on Bithumb, Bitcoin (BTC) is trading at 120,499,000 won, down 2.64% from the previous day. At the same time, Ethereum (ETH) recorded a 1.52% decline to 2,782,000 won. Solana (SOL) recorded a 2.11% drop to 183,400 won. On the other hand, XRP rose 1.09% to 3,350 won, buoyed by news that the Dubai International Financial Center (DIFC) in the United Arab Emirates has adopted the Ripple payment system.
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The international market also showed similar movements. At the same time, based on CoinMarketCap, BTC is trading at $81,278.80, down 2.83% from the previous day. ETH fell 1.66% to $1,877.97, XPR rose 1.05% to $2.255, and BNB rose 0.61% to $576.62. SOL fell 2.54% to $123.31.
The total market capitalization of virtual assets decreased by 2.33% from the previous day to about $2.64 trillion (about 3,841.2 trillion won). The Crypto Fear and Greed Index of alternative.me, a virtual asset data company, rose 11 points from the previous day to 45 points, indicating 'fear'.
◆ Virtual assets and US stocks fell together due to uncertainty over tariffs
The virtual asset market is seen to have declined due to heightened concerns over the US trade war. The three major indices of the New York stock market also plummeted, reflecting an unstable investment sentiment.
On the 13th (local time), the Dow Jones Industrial Average fell 1.30%, the S&P 500 index fell 1.39%, and the Nasdaq index fell 1.96%. The S&P 500 entered a correction phase, falling more than 10% from its all-time high.
Although the February producer price index (PPI) was lower than expected, the virtual asset market showed a sluggish response. According to the US Department of Labor, the seasonally adjusted PPI for February was unchanged from the previous month, and rose 3.2% year-on-year, slowing 0.5 percentage points from January's 3.7%.
This market decline is analyzed to be mainly due to the uncertainty surrounding President Donald Trump's trade tariff policy. President Trump warned that the European Union could impose a 200% tariff on wines, champagne, etc. He also emphasized that he would not back down on steel and aluminum tariffs.
The financial market analysis service 'Covesi Letter' analyzed that "the market is showing a very minimal response to inflation data that would have been a positive factor in the past" and "this data provides a basis for President Trump to continue his current policy." This means that the positive economic indicator of slowing inflation is actually providing room for the Trump administration to strengthen its tariff policy, which is negatively affecting the market.
