Bitcoin falls to around $85,000, with a daily drop of over 6%.

Source: HanKyungBlockchain Original Title: Bitcoin faces danger at $85,000… plummeting 6% in just one day.

Original Link: https://www.hankyung.com/article/2025120273037 The virtual currency large-cap stock Bitcoin market fell sharply on the 1st at ( local time ), fluctuating around $85,000.

According to data from a certain compliant platform of a virtual currency exchange in the United States, as of 4:20 PM Eastern Time, the price of Bitcoin has dropped by 5.84% compared to 24 hours ago, with a trading price of $85,843.

At 10:45 AM that morning, Bitcoin briefly fell to $83,807.

Since falling to the initial level of 80,000 US dollars on the 21st of last month, there has been a steep decline again just ten days later.

At the same time, Ethereum, the second-ranked cryptocurrency by market capitalization, fell more than 7% compared to the previous day, trading in the range of $2700.

Solana fell more than 8%, reaching $124, and other major cryptocurrencies also showed a downward trend.

In the New York stock market, the stock prices of a compliant platform and an online trading platform fell by 4.76% and 4.09% respectively.

According to the market data from a certain compliance platform, Bitcoin has dropped over 30% since reaching its historic high of $126,210.50 on October 6 of last year.

U.S. media such as CNBC reported that the People's Bank of China recently issued a warning regarding illegal activities related to virtual currencies, which had a negative impact on the cryptocurrency market that day.

In addition, experts analyze that the widespread risk aversion mentality among investors continues to have an impact.

Ben Emons, the founder and Chief Investment Officer of the investment consulting firm Fedwatch Advisors, stated that after the recent massive sell-off of Bitcoin, market participants are still in a “state of unease,” particularly as the day's decline is related to the liquidation of a $400 million exchange.

He pointed out that certain exchanges have a leverage investment scale of up to 200 times, and stated, “If the price of Bitcoin cannot break free from the current low point, further liquidations are expected.”

CNBC also reported that the uncertainty surrounding the reduction of the US benchmark interest rate and concerns about the macroeconomy continue to dampen investor sentiment.

Jack Pandel, head of research at cryptocurrency asset management firm Grayscale, pointed out that the recent relatively low trading volume indicates that “( investors' ) risk appetite is in a state of contraction.”