Bitcoin prices fail to maintain $90,000 and show a downward trend. As of 8:35 AM on December 7, Bitcoin is trading at $89,059, down 0.25% compared to 24 hours ago. Compared to a week ago, Bitcoin prices have fallen by 2%. Ethereum is trading at $3,031, up 0.28% from the previous day.

Bitcoin prices also slightly declined on domestic cryptocurrency exchanges. On Upbit, Bitcoin is trading at 133,512,000 KRW, down 0.24% from 24 hours ago, while Ethereum is trading at 4,543,000 KRW, up 0.4%. On Bithumb, Bitcoin is trading at 133,383,000 KRW, down 0.92%, and on Coinone, it is trading at 133,440,000 KRW, down 0.19%.

The "Crypto Fear and Greed Index," which reflects market sentiment, recorded a score of 21. The closer this index is to 0, the more the market is in extreme fear, indicating a tendency for investors to oversell. Conversely, the closer it is to 100, the more the market is driven by greed, increasing the likelihood of a correction.

The recent decline in Bitcoin prices followed an initial rise after the global asset management firm Vanguard announced it would allow the sale of cryptocurrency products in the form of ETFs and mutual funds on its platform. However, momentum weakened within a day.

As of 9:00 AM on the 6th, according to CoinMarketCap, Bitcoin is trading at $89,244, down 3.24% from 24 hours ago, and Ethereum is trading at $3,021, down 3.85%. Ripple, ranked 4th in market capitalization, is down 3.32% at $2.03, and Binance Coin, ranked 5th, is down 2.04% at $883.

As volatility in the cryptocurrency market increases, investor sentiment is deteriorating. The price declines of major cryptocurrencies such as Bitcoin and Ethereum are negatively impacting the market, and analysts suggest that investors need to approach with caution.

Whether the cryptocurrency market recovers will depend on major upcoming news and economic indicators. If the current downward trend continues, investors are likely to adopt more conservative investment strategies.