Bitcoin rebounded from a low near $81,000 toward $84,000 on Tuesday despite fresh losses in South Korea's technology stocks. TradingView data showed BTC/USD rising more than 2.5% to $83,944 on Bitstamp, reversing Monday's decline. Traders noted that buyers had struggled to sustain prices above $84,000 on shorter time frames. CoinGlass data showed a growing concentration of sell orders near $84,000 on exchange order books, limiting Bitcoin's gains.
South Korea's KOSPI Composite Index extended its losses for the week to 7.4% as the technology stock sell-off accelerated. The index fell below its 200-day moving average for the first time since late July. Semiconductor stocks faced particular pressure, with SK Hynix closing more than 10% lower. The sell-off compounded problems for Samsung after Samsung reported lower-than-expected Q3 earnings last week. Foreign investors have sold around 173 trillion won ($129 billion) worth of SK Hynix and Samsung shares since the start of 2026. Those sales accounted for the vast majority of year-to-date KOSPI sales.
The weakness echoed August's sell-off, when concerns about the AI boom and associated corporate debt obligations triggered sharp losses that soon spread to global markets. UBP senior equity advisor Vey-Sern Ling said on Monday that nervous investors were seeking reasons to take profits on outperforming AI-related stocks, especially memory stocks. Ling identified competition from China as an increasingly significant problem for investors in South Korea. Ling also acknowledged that China's sector still faced technology hurdles.
However, Bitcoin avoided repeating the August sell-off and moved toward the upper end of its local trading range between $80,000 and $87,000. Analysis attributed Bitcoin's relative strength to potential monetary policy easing by central banks. Major US inflation data is due this week ahead of the Federal Reserve's Oct. 28 interest-rate decision. Markets expect interest rates to remain at their current levels of 2.75% to 4%.
Bitcoin's relative strength came despite declining investor appetite for Bitcoin exposure in October. US spot Bitcoin exchange-traded funds recorded $451 million in net outflows so far this month. The funds recorded $69 million in net outflows on Monday.
Bitcoin Rebounds Toward $84,000 Amid South Korea Tech Sell-Off
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Summary
Bitcoin news shows the price rebounding from $81,000 toward $84,000 on Tuesday, despite South Korea’s tech sector falling. On-chain data from TradingView shows BTC/USD rose 2.5% to $83,944 on Bitstamp. CoinGlass reports growing sell pressure near $84,000. South Korea’s KOSPI dropped 7.4% weekly, with SK Hynix down over 10%. Foreign investors have sold $129 billion in tech shares since 2026. Bitcoin’s strength may come from easing monetary policy, though ETFs saw $451 million in outflows this month.
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