Bitcoin held above $75,000 on Friday after falling as much as 6.6% on Thursday, as a sell-off in US technology stocks spread to Asian markets. South Korea’s KOSPI fell more than 8% shortly after Friday’s open, triggering a 20-minute trading halt, before closing 6% lower.
South Korea’s finance minister announced that brokerages would be exempt from the 140% collateral-ratio requirement on margin loans for three months from Monday. Analysts linked the US stock losses to fears of tighter AI regulation after Democrats’ election gains, but The Kobeissi Letter said it believed the decline was more technical than fundamental.
