South Korea’s Kospi tumbled as much as 9%, triggering its second trading halt of the week, as chipmakers SK Hynix and Samsung both fell more than 8%. Nasdaq 100 futures fell 1.5%. Brent crude slipped below $74 a barrel, easing little of the pressure, after a projectile strike on a vessel in the Strait of Hormuz briefly revived supply concerns.<\/p>\n
The crypto-specific selling added to it. Part of bitcoin’s pullback came from large holders selling sizable amounts into a market that has been slow to absorb the extra supply, said Gabe Selby, head of research at CF Benchmarks, in an email to CoinDesk.<\/p>\n
He said much of the new money and investor attention has flowed into AI plays lately, leaving crypto fighting for a smaller share of overall risk appetite, and described the move as a broad market cooldown rather than anything broken in crypto itself.<\/p>\n
Selby sees the current zone as the one that has historically halted bitcoin’s declines. “Bitcoin has pulled back into the $50,000 to $60,000 zone today, and if history is any guide, this is where buyers step in,” he said. <\/p>\n
That leaves the market where it has traded all week, with bitcoin leaning on a level it has not lost in nearly two years while the altcoins around it weaken faster. Selby further pointed to $55,000 as the support to watch below and $61,000 to $62,000 as the level bulls need to reclaim, and advised keeping position sizes sensible. <\/p>\n","protected":false},"excerpt":{"rendered":"South Korea’s Kospi tumbled as much as 9%, triggering its second trading halt of the week, as chipmakers…\n","protected":false},"author":2,"featured_media":727313,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28],"class_list":["post-727312","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/727312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=727312"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/727312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/727313"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=727312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=727312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=727312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}