Key Takeaways
- • Bitcoin briefly fell below $81,000 before recovering above $84,000 on October 13, 2026, according to Pluang, with $814 million in crypto-futures liquidations over 24 hours, mostly from long positions.
- • South Korea's KOSPI index fell 5.46% on the same day, driven by heavy losses in tech names Samsung Electronics and SK Hynix over AI investment profitability concerns and competition from Chinese chipmakers.
- • The source states that while the timing aligns, no direct causal link between the Bitcoin drop and the Korean selloff has been confirmed.
- • Market attention shifts to upcoming U.S. bank earnings from JPMorgan Chase, Citi, and Goldman Sachs.
Summary
Bitcoin briefly dropped below $81,000 before recovering above $84,000, according to Pluang. The move coincided with $814 million in crypto-futures liquidations over a 24-hour period, the majority of which were long positions, indicating forced unwinding of leveraged bullish bets during the decline.
The drop occurred alongside a sharp selloff in South Korean equities. The KOSPI index fell 5.46%, with heavy losses concentrated in technology stocks including Samsung Electronics and SK Hynix. Investors cited concerns over the profitability of AI-related investment and rising competition from Chinese chip manufacturers. Pluang notes the timing overlaps, but no direct causation between the Bitcoin decline and the Korean market move has been confirmed.
Pluang's market snapshot as of October 13, 2026, 18:43 WIB showed 8 of 50 major cryptocurrencies rising and 41 falling. VeChain (VET) led notable decliners, down 7.65% at Rp130, followed by Theta Network (THETA) down 7.36% and Zilliqa (ZIL) down 7.09%.
Attention now turns to U.S. bank earnings from JPMorgan Chase, Citi, and Goldman Sachs, which are expected to provide further read-through on risk appetite across financial markets.
The drop occurred alongside a sharp selloff in South Korean equities. The KOSPI index fell 5.46%, with heavy losses concentrated in technology stocks including Samsung Electronics and SK Hynix. Investors cited concerns over the profitability of AI-related investment and rising competition from Chinese chip manufacturers. Pluang notes the timing overlaps, but no direct causation between the Bitcoin decline and the Korean market move has been confirmed.
Pluang's market snapshot as of October 13, 2026, 18:43 WIB showed 8 of 50 major cryptocurrencies rising and 41 falling. VeChain (VET) led notable decliners, down 7.65% at Rp130, followed by Theta Network (THETA) down 7.36% and Zilliqa (ZIL) down 7.09%.
Attention now turns to U.S. bank earnings from JPMorgan Chase, Citi, and Goldman Sachs, which are expected to provide further read-through on risk appetite across financial markets.
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