[Market Update] Bitcoin breaks below the $86,000 level… crypto asset market widens losses

Suehyeon Lee

Summary

Bitcoin's $86,000 level has collapsed, intensifying the downtrend.
Bitcoin is trading at $85,963.19, down 4.11%, and on Upbit it is trading at 127,796,000 won, down 1.03%.
Major altcoins such as Ethereum, XRP, and Solana are also recording declines.

Bitcoin (BTC)'s downtrend has deepened, with even the $86,000 level breaking.

As of 11:18 a.m. on the 16th (Korea time), according to CoinMarketCap, Bitcoin is trading at $85,963.19, down 4.11% from the previous day. On Upbit's KRW market, it is trading at 127,796,000 won, down 1.03% from the previous day.

Major altcoins, including Ethereum (ETH), are also showing declines across the board. Ethereum is currently trading on CoinMarketCap at $2,943.72, down 6.2% from the previous day; XRP is trading at $1.86, down 7.13% from the previous day. Solana (SOL) is recording $126.37, down 4.14% from the previous day.