Bitcoin Falls Below 100 Million Won on Upbit as Cyber (CYBER) Surges 35% Alone

▲ Upbit Market Conditions on February 18

In the domestic virtual asset market, Bitcoin (BTC), the leading cryptocurrency, has easily fallen below the 100 million won level, which had been regarded as a strong psychological support line. Amid overlapping global macroeconomic uncertainties and growing risk-off sentiment, overall investor confidence has frozen, and with no clear catalyst for a rebound, an endless standoff continues.

As of 10:30 a.m. on the 18th, Bitcoin was trading at 99,402,000 won on Upbit, South Korea’s largest virtual asset exchange, down 0.65% from the previous day, surrendering the 100 million won mark. Although it briefly rose to an intraday high of 100,173,000 won, it was pushed down by mounting selling pressure and fell to a low of 99,401,000 won, repeatedly failing to reclaim the 100 million won level.

Major altcoins also remained weak, turning blue across the board. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, fell 0.81% to 2,923,000 won, while Ripple (XRP) dropped 0.32% to 2,172 won, Solana (SOL) declined 0.87% to 124,800 won, and Dogecoin (DOGE) slipped 0.67% to 148 won. Jito (JTO) recorded a sharp 6.48% plunge. In contrast, only a handful of small- and mid-cap altcoins showed localized volatility driven by speculative demand, with Cyber (CYBER) surging 35.57% to 1,132 won and Orca (ORCA) rising 1.74%.

The current deep downturn is interpreted as a result of rapidly cooling global risk appetite. Anxiety surrounding technology stocks on Wall Street and uncertainties in macroeconomic indicators have directly spilled over into the virtual asset market, intensifying investor caution. Moreover, with institutional funds continuously flowing out of spot Bitcoin exchange-traded funds (ETFs) and buying interest in the spot market also disappearing, the market has lost a solid pillar to defend prices.

The outlook ahead also appears challenging. Market experts warn that as Bitcoin has lost the symbolic support level of 100 million won, additional panic selling could occur in the short term until a clear bottom is confirmed. To dramatically reverse the suppressed investor sentiment, a revival of expectations for U.S. interest rate cuts or a significant inflow of institutional capital driven by a clear new theme such as real-world asset (RWA) tokenization is urgently needed. For the time being, the market is expected to continue a difficult resistance test to reclaim the 100 million won level without a clear directional trend.

*Disclaimer: This article is intended for investment reference only and the publisher is not responsible for any investment losses incurred based on it. The content should be interpreted solely for informational purposes.*