Bitcoin dropped to $80,154 on Bitstamp, marking its lowest price point since September 20. This decline follows a significant downturn in South Korean equity markets, where the KOSPI index fell by 7.5% on Thursday, bringing total losses for the week to 15.5%.
The KOSPI closed at 5,554 points, the lowest daily close recorded since April 8. Major technology firms were heavily impacted, with SK Hynix shares declining by 11% and Samsung Electronics falling by 9.5%. Analysts attribute the market instability to AI debt concerns and capital outflows.
Samsung is scheduled to report third-quarter results on October 29, with projected sales of ₩195 trillion, equivalent to $145 billion, and an operating profit of ₩107 trillion, or $80 billion. Investors remain cautious ahead of these earnings releases.
Macroeconomic factors, including US inflation data, further pressured digital assets. The September Consumer Price Index rose by 3.7% year-on-year, leading to market speculation regarding potential interest rate hikes by the Federal Reserve. Meanwhile, oil prices saw a decline, with WTI trading below $95 per barrel.
