Bitcoin Tests $84K Resistance Amid Korean Tech Selloff

Bitcoin’s price hovered below $84,000 on Tuesday, with its liquidity constrained amid a deepening sell-off in South Korean tech and semiconductor stocks.

The cryptocurrency saw a rebound toward the $84,000 mark as broader crypto markets managed to sidestep further losses impacting South Korean equities.

Bitcoin Edges Higher Amid Tech Stock Woes

Data from TradingView indicated that Bitcoin (BTC/USD) climbed more than 2.5% on Tuesday, reaching $83,944 on Bitstamp and recovering from Monday’s decline.

This uptick occurred as a fresh wave of selling pressure intensified on South Korea’s KOSPI Composite Index, extending its weekly losses to 7.4%. The index dipped below its 200-day moving average for the first time since late July.

Semiconductor Stocks Face Steep Declines

Semiconductor shares were particularly hard-hit. SK Hynix closed down over 10%, while the broader market rout exacerbated existing challenges for Samsung, which had already reported weaker-than-expected third-quarter earnings last week. Foreign investors have divested approximately 173 trillion won ($129 billion) in SK Hynix and Samsung shares since the start of 2026, representing the vast majority of year-to-date sales on the KOSPI.

The current weakness mirrors a sell-off in August, when concerns over the artificial intelligence boom and related corporate debt obligations triggered sharp declines that subsequently spread to global markets.

“Investors are jittery and looking for excuses to take profit on AI-related stocks that have outperformed this year, especially memory stocks,” Vey-Sern Ling, senior equity advisor at UBP, told CNBC on Monday.

Ling also pointed to increasing competition from China as a growing concern for Korean investors, while acknowledging that the Chinese sector still faces “technology hurdles.”

Bitcoin Diverges from Equity Market Trends

In contrast to the August downturn, Bitcoin has avoided a similar trajectory, moving towards the upper boundary of its recent trading range between $80,000 and $87,000.

Analysis at the time attributed Bitcoin’s relative resilience to potential monetary policy easing by central banks. This week’s release of key U.S. inflation data precedes the Federal Reserve’s rate decision on October 28, with markets anticipating rates to remain at their current levels of 2.75-4%.

Bitcoin’s stability also comes despite a waning investor appetite for BTC exposure in October. U.S. spot Bitcoin exchange-traded funds (ETFs) have recorded net outflows totaling $451 million so far this month, including $69 million on Monday.

Traders observed that bullish sentiment struggled to maintain prices above $84,000 on shorter timeframes. Data from CoinGlass indicated a growing concentration of sell-side liquidity on exchange order books near that price level.