South Korean Stock Market Sell-Off Sends Bitcoin Price Tumbling

Bitcoin fell by 2% after US markets closed as investors sought safer assets during a global market sell-off.

The sharp drop in South Korea's KOSPI index, which plummeted 10%, triggered a broad sell-off across financial markets.

Analysts stated that traders moved into safer assets, including cryptocurrencies, but the move reflected broader market weakness rather than crypto-specific news.

Bitcoin briefly dipped below a key price level before recovering some of its losses during Asian trading hours.