Bitcoin Holds Above Summer Lows as Korean Chip Stocks Slide
Bitcoin remained well above its summer lows as South Korean chipmakers led a sharp stock selloff amid concerns about AI spending and Chinese competition.
South Korean stocks fell sharply again, with chipmakers leading the decline as worries about artificial intelligence spending and competition from China weighed on the sector.
The selling added to losses in the Kospi, highlighting pressure on South Korea’s equity market as investors assessed those concerns.
Bitcoin showed a different pattern, remaining well above its summer lows despite the weakness in Korean stocks. The contrast marked a divergence between the cryptocurrency and the chip-heavy equity market.
Source: CoinDesk
