CryptoSlate
Bitcoin recovered above $83,000 after briefly falling below $81,000 as Asian equities sold off and crypto liquidations reached $812.9 million over 24 hours. The wave affected 170,209 traders, with bullish positions accounting for $686.72 million, or 84.5%, of the total. BTC liquidations reached $192.14 million, followed by $180.5 million for ETH and $60.85 million for SOL.
Why it matters
South Korea's KOSPI fell as much as 7.4% before closing 6% lower at 6,035.35. Samsung Electronics dropped 7.39% and SK Hynix lost 10.09%, extending both companies' fifth straight session of declines. Together, the memory-chip makers represent roughly half of the index's market capitalization, concentrating the impact of weaker confidence in AI infrastructure spending.
Foreign investors sold about 4.5 trillion won, or $3.35 billion, of Korean equities. The pressure reflects a wider retreat from crowded AI trades. Broadcom CEO Hock Tan compared speculative AI investment with gambling, while China's ChangXin Memory Technologies announced a DRAM architecture that could reduce memory-cell area by about 30%, with commercial production still unproven.
Market impact
Bitcoin's recovery did not yet show a decisive return of aggressive buyers. CryptoQuant analyst JA Maartunn said Bitcoin's Net Taker Volume turned negative again, indicating that derivatives selling continued to outweigh buying. The rebound was helped by short liquidations and passive demand after leveraged longs were forced out.
The risk remains tied to both equities and macro data. The Philadelphia Semiconductor Index fell 2.7%, Japan's Nikkei 225 dropped 1.8%, and BlackRock moved US equities from overweight to neutral while favoring short-term Treasuries. A deeper equity selloff or renewed leverage ahead of the US inflation report could put Bitcoin's recovery under pressure.
Frequently asked questions
-
How large was the crypto liquidation wave?
Crypto liquidations reached $812.9 million over 24 hours and affected 170,209 traders. Long positions accounted for $686.72 million, or 84.5%, of the total.
-
Which crypto assets recorded the largest liquidations?
BTC led with $192.14 million in liquidations, followed by ETH at $180.5 million and SOL at $60.85 million.
-
Why did South Korea's stock market fall so sharply?
The KOSPI was heavily exposed to Samsung Electronics and SK Hynix, which together represent roughly half of its market capitalization. Weakness in AI infrastructure expectations intensified the semiconductor selloff.
-
What did foreign investors do during the Korean equity selloff?
Foreign investors sold approximately 4.5 trillion won, or $3.35 billion, of Korean equities during the session.
-
Why does Bitcoin's rebound remain vulnerable?
Bitcoin's Net Taker Volume turned negative again, indicating that aggressive derivatives selling still outweighed buying. Short liquidations and passive demand supported the rebound, but another equity selloff or renewed leverage could pressure BTC.
CoinTelegraph
WatcherGuru
CoinDesk
WuBlockchain
TheBlock
Crypto News