[DigitalToday reporter Hyunwoo Choo (추현우)] The cryptocurrency market has entered a broad-based slide. As of 5:30 a.m. on Feb. 6 based on Coin360, bitcoin (BTC) trades at $64,072, plunging 12 percent from a day earlier. On South Korea's Upbit, bitcoin is trading in the 94 million won range, breaking below the 100 million won threshold. Bitcoin's market dominance stands at 50.2 percent.

Most major altcoins also plunged. Ether (ETH) slid 13.4 percent to $1,876, breaking below the $2,000 support level. XRP fell 21.63 percent to $1.16, posting a particularly steep drop. Binance Coin (BNB) was down 8.89 percent at $641, while Solana (SOL) fell 12.71 percent to $81. Many other tokens, including ADA, TRX and XLM, also joined the double-digit declines.

The sharp fall is interpreted as an expansion of broader anxiety in investor sentiment rather than a simple price correction. Some investors point to intensifying profit-taking pressure after a short-term surge and a series of key support levels breaking down.

External market factors were also significant. An analysis says investors are pursuing strategies to reduce exposure to risk assets as volatility in the U.S. stock market increases. It was also pointed out that declines in the Nasdaq and the S&P 500 indices dampened sentiment in crypto markets including bitcoin, intensifying selling pressure.

The Dow Jones Industrial Average is trading at 48,941.25, down 1.13 percent from the previous day. The S&P 500 is down 1.22 percent at 6,799.30. The tech-heavy Nasdaq is down 1.61 percent at 22,534.72.

The collapse in U.S. tech stocks also affected South Korean equities. On Feb. 5, the KOSPI closed down 3.86 percent at 5,163.57, putting the brakes on its sharp-rally run. Shares of Samsung Electronics, which had led the market after surpassing 1,000 trillion won in market capitalisation, ended down 5.8 percent at 129,300 won, while SK Hynix shares closed down 6.44 percent at 842,000 won. With continued weakness on Wall Street, the South Korean stock market set to open on Feb. 6 is also expected to feel the impact.

An assessment says the collapse of major asset markets is being driven by expanding macroeconomic risks and uncertainty over the interest-rate environment, which is reducing overall preference for risk assets, and that this is spreading to the cryptocurrency market. There are also overseas analyses that say the price slide accelerated as leveraged positions were liquidated all at once.

Many analyses say uncertainty over the future direction remains high, particularly because bitcoin is again testing the psychological $60,000 level. Market participants are closely watching short-term technical analysis and changes in macro variables as they respond.