Bitcoin drops to $81,400 as Asian chip stocks tumble, options traders seek downside protection
Bitcoin slipped 0.5% to around $81,400 even after the biggest daily spot ETF inflow in nearly a month as South Korea's Kospi index fell 3.7% on AI worries.
AI Summary
Bitcoin's price dipped 0.5% to around $81,400, despite a significant inflow of $526.6 million into U.S. spot bitcoin ETFs—the largest in nearly a month. This decline coincided with a 3.73% drop in South Korea's Kospi index, driven by concerns over AI spending affecting chipmakers like SK Hynix and Samsung Electronics. Additionally, options traders appeared bearish, with puts significantly outnumbering calls.