[Bitcoin Now] Bitcoin Drops to the $104,000 Range

The price of Bitcoin has dropped to the $104,000 range.

According to CoinMarketCap, a global virtual asset market data platform, as of 5:06 p.m. on November 4, the price of Bitcoin stood at $104,174.24, down 3.15% from 24 hours earlier. This marks a 3.15% decline compared to the previous day.

Altcoins are experiencing a similar trend. Ethereum fell 6.25% to $3,482.27, while Ripple (XRP) dropped 7.22% to $2.24. In addition, Solana declined 11.09% to $156.78.

The downward trend in virtual assets is attributed to weakened investor sentiment caused by forced liquidations of virtual asset derivatives. According to Coinglass, a virtual asset data provider, the total liquidation amount of virtual assets over the past 24 hours reached $1.24 billion (approximately 1.7839 trillion won).

Additionally, liquidity shifts resulting from bullish domestic and global stock markets are also cited as reasons. The KOSPI recently surpassed the 4,200 mark, reaching an all-time high. In the New York stock market, the Dow Jones, Nasdaq, and S&P 500 have also set new record highs.