Bitcoin diverges from South Korean stocks as AI concerns deepen the Kospi selloff
BTC when published $83,531Now $80,577 ▼ −3.54% since it was published
South Korea’s stock market suffered another sharp selloff on Tuesday, with the KOSPI falling 5.5% during Asian trading. The index is now roughly 38% below its June all-time high, extending a reversal that contrasts with bitcoin’s 40% recovery. Bitcoin bottomed near $58,000 shortly after the KOSPI peaked and has since rebounded as high as $87,000. The weekly chart shows a 20 day-period rolling correlation of -0.41, indicating a moderately negative relationship between bitcoin and the KOSPI. That divergence suggests that bitcoin could benefit as investors reduce exposure to the AI trade, although correlation alone does not establish capital rotation.
First reported by CoinDesk. This page is a short excerpt; the full text is theirs.
