Bitcoin Slides Up To 8% As Tech Sell-Off Drags South Korea’s Kospi Down Nearly 4%

Asian equities declined on Thursday, led by sharp losses in technology stocks, while bitcoin fell as much as 8% during early trade, reflecting heightened volatility across global markets. South Korea’s Kospi dropped nearly 4% in the session, while U.S. stock futures traded lower, according to exchange data.

Bitcoin was trading near $71,000 in early Asian hours after falling to around $69,000 earlier in the day, marking its lowest level since November 2024, according to data from CoinDesk. The cryptocurrency was down about 7% at the time of reporting.

Asian Markets Under Pressure

In equity markets, South Korea’s Kospi index declined 3.9% to 5,163.57. Shares of Samsung Electronics fell 5.9%, while chipmaker SK Hynix dropped 6.7%, according to Korea Exchange data.

Japan’s Nikkei 225 slipped 0.9% to 53,818.04. In Greater China, Hong Kong’s Hang Seng index eased 0.3% to 26,761.00, while the Shanghai Composite fell 0.6% to 4,079.68, based on exchange figures. Australia’s S&P/ASX 200 declined 0.4% to 8,889.20, and Taiwan’s Taiex lost 1.5%.

Wall Street Closes Mixed Overnight

U.S. markets closed mixed on Wednesday. The S&P 500 fell 0.5% to 6,882.72, marking its fifth decline in six sessions, according to data from U.S. exchanges. The Nasdaq Composite dropped 1.5% to 22,904.58, while the Dow Jones Industrial Average rose 0.5% to 49,501.30.

Technology stocks weighed on the broader market. Advanced Micro Devices shares plunged 17.3% despite reporting quarterly profits above analyst estimates and issuing a revenue outlook for early 2026 that exceeded expectations, according to company filings. Uber Technologies fell 5.1% after reporting quarterly results and profit guidance below analyst estimates and announcing a change in its chief financial officer.

Some stocks bucked the trend. Super Micro Computer jumped 13.8% after posting quarterly earnings above expectations. Walmart shares rose 0.2%, a day after the retailer’s market capitalisation crossed $1 trillion, according to exchange data.

Commodities And Currencies Move Lower

In commodities, U.S. benchmark crude oil fell $1.37 to $63.77 per barrel, while Brent crude declined $1.47 to $67.99 per barrel, according to energy market data. Gold slipped 0.3%, and silver dropped 7%, based on spot price data.

In currency markets, the dollar strengthened to 157.00 Japanese yen from 156.80 yen, while the euro edged lower to $1.1790 from $1.1804, according to foreign exchange data. The broad decline across equities, cryptocurrencies, commodities, and select currencies highlighted heightened volatility in global markets during the session