Add as a preferred source on GoogleBitcoin Rebounds Above $83,000 as Korean Stocks, Nasdaq Futures Slide
Bitcoin recovered from a drop below $81,000 as the KOSPI fell more than 6% and the U.S. market awaited Wednesday’s consumer-price report.
Bitcoin (BTC) recovered above $83,000 Tuesday after briefly falling below $81,000, diverging from sharp losses in South Korean chip stocks and weaker Nasdaq futures ahead of a key U.S. inflation report.
Bitcoin slipped to just under $81,000 at 8:50 p.m. ET Monday before rebounding. The KOSPI, South Korea’s benchmark stock index, traded below 6,000 and fell more than 6% intraday.
Samsung Electronics declined 6.79% and SK hynix dropped 8.54% during morning trading in Seoul. Separate intraday figures put the declines at roughly 7% for Samsung and 9% for SK hynix. Nasdaq futures were down 0.6%.
The market is now focused on the September consumer-price report from the Bureau of Labor Statistics, scheduled for Wednesday, Oct. 14, at 8:30 a.m. ET (12:30 p.m. UTC). Elevated oil prices and the dollar remain part of the inflation and interest-rate backdrop.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.