[Bitcoin Now] Downtrend Amid Nasdaq Decline Due to 'Synchronization'... Investor Sentiment Slightly Recovers

Nasdaq Falls 1%
Investor Sentiment Index Rises by 1 Point

[Image source=Reuters·Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] Bitcoin prices are also weak as the Nasdaq index, which shows a synchronization phenomenon, closed lower.

According to the global virtual asset market tracking site CoinMarketCap, as of 9:57 a.m. on the 28th, the price of Bitcoin was recorded at $16,707 (approximately 21.22 million KRW), down 0.97% from the previous day.

Bitcoin prices are declining as the Nasdaq index fell more than 1%. On the 27th (local time), the tech-heavy Nasdaq index closed at 13,053.23, down 144.64 points (1.38%). The Dow Jones Industrial Average rose 37.63 points (0.11%) to 33,241.56, while the large-cap S&P 500 index closed at 3,829.25, down 15.57 points (0.40%).

Representative tech stock Tesla fell 11.41% following news that production at its Shanghai factory in China would be reduced. Nvidia dropped 7.14%, Amazon fell 2.59%, and Apple also declined 1.39%.

The virtual asset specialized media CoinDesk evaluated that "coin prices have remained sideways at the levels maintained over the past two weeks."

Meanwhile, according to the virtual asset data provider Alternative, the Fear & Greed Index, which indicates investor sentiment, rose by 1 point from the previous day to 28 points (fear). Alternative's Fear & Greed Index means that the closer the score is to 0, the more extreme pessimism investors feel, and the closer it is to 100, the more optimistic they are.