Bitcoin, XRP, ETH decouple from tumbling Korean stocks
Summary
Bitcoin recovered above $83,000 after falling below $81,000 amid a selloff in Asian chip stocks and U.S. tech futures. Ether, XRP and other major tokens also rebounded from lows. South Korea’s KOSPI dropped more than 6%, led by Samsung and SK Hynix, as concerns grew about AI valuations and Chinese competition. Oil prices remained elevated amid regional attacks and shipping risks, adding to inflation concerns and the prospect of higher U.S. rates. The dollar held near its highest level since April 2024. Traders are watching Thursday’s U.S. CPI report; one market maker said institutions may hedge crypto exposure with derivatives rather than cut core holdings.
