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Bitcoin rebounded toward $84,000 as South Korea stocks slid

BTC rose to about $83,944 on Bitstamp, while South Korea’s KOSPI Composite Index extended weekly losses to 7.4% and fell below its 200-day moving average for the first time since late July.

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Bitcoin rebounded toward the $84,000 area on Tuesday, as crypto markets avoided fresh losses linked to a sell off in South Korea’s technology and semiconductor stocks, according to Cointelegraph.

TradingView data cited by Cointelegraph showed BTC/USD up more than 2.5% on Tuesday, reaching about $83,944 on Bitstamp after Monday’s drop.

Cointelegraph said the broader pressure came as South Korea’s KOSPI Composite Index extended its weekly decline to 7.4% and fell below its 200 day moving average for the first time since late July.

The outlet also pointed to weakness in semiconductor shares, noting SK Hynix closed more than 10% lower, as the rout compounded existing problems in the sector.

Latest closeBitcoin $83,358.73 ▲1.9%|Kospi 6,803.90 ▼2.0%

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