The South Korean stock market really blew up today, with KOSPI crashing 10% and triggering a circuit breaker. When was the last time we saw a market like this? Samsung and SK Hynix both tanked 12% in one day, and retail traders who chased the highs are probably getting liquidated.
$BTC also took a dive, dropping to $61,877, marking a two-month low. ETFs pulled out $2.4 billion in June; where did all that money go? It's all flowing into AI and US stocks now.
$ETH also took a hit.
The dollar index shot up to 101.2, hitting a one-year high. The Fed officials are still sticking to their guns, claiming they’ll raise rates this year, and the market expects at least two hikes. Gold and silver are struggling, so what makes you think crypto can hold up?
On the flip side, oil prices dipped a bit, with Brent falling below $77. The US easing restrictions on Iranian oil sales is a sign of relaxation. The Korean market is crashing, but money always finds a place; could some be bottom-fishing in crypto?
I think this dip is pretty deep, but don’t rush in to catch falling knives. It’s better to stay calm during times like these and wait for market sentiment to stabilize.
#Bitcoin #Crypto #Market #Trading #KoreanMarket
NFA DYOR