Key Takeaways
- • Bitcoin dipped below $81,000 before recovering above $83,000 on Oct. 13, 2026, while ether fell as low as $2,400, according to CoinDesk's Crypto Markets Today.
- • South Korea's Kospi plunged 5.5% on Tuesday, led by Samsung Electronics (down 7%) and SK Hynix (down 10%), leaving the index roughly 38% below its June all-time high.
- • Concerns over AI investment, including a Broadcom CEO calling current AI investing "casino-like," and advances at China's CXMT in memory chips drove the Asian selloff.
- • Crypto derivatives data show deleveraging: futures volume rose 66% to $212 billion while open interest fell 1.58% to $143.4 billion and liquidations hit $813 million.
- • Investors are positioning ahead of Wednesday's U.S. CPI report, with headline inflation forecast at 3.6% year over year, and major bank earnings from JPMorgan, Goldman Sachs and Citigroup.
Summary
Bitcoin fell below $81,000 before rebounding to settle just above $83,000 on October 13, 2026, while ether dropped as low as $2,400, according to CoinDesk. The moves came as South Korea's equity benchmark, the Kospi, plunged 5.5% on Tuesday, with Samsung Electronics and SK Hynix leading the declines. The index now sits roughly 38% below its June all-time high.
The Asian selloff reflected mounting concerns about the AI trade. Broadcom's CEO described current AI investing as "casino-like," weighing on investor confidence, while reported advances in memory-chip technology at China's CXMT raised concerns about stronger competition for established chipmakers.
Derivatives data point to forced deleveraging rather than new positioning. Twenty-four-hour futures volume rose 66% to $212 billion from $126 billion the prior day, while open interest fell 1.58% to $143.4 billion and liquidations rose 284% to $813 million. Taker volume showed sellers holding a slight edge at a 48%/52% long/short split. Bitcoin and ether implied volatility remained near year-to-date lows, and heavy put volume in bitcoin pointed to continued hedging demand. Among tokens, Starknet (STRK) fell more than 17%, LayerZero (ZRO) lost 14%, and Blur slid 33% after announcing it would close its web interface on Nov. 12. Autheo (THEO) plunged 92% following a suspected exploit on Base, in which PeckShield said an attacker minted 19 million unauthorized tokens and exchanged them for 700 ETH, worth about $1.76 million. Stacks (STX) bucked the decline with an 11.4% gain.
Investors are also positioning ahead of Wednesday's U.S. CPI report, where headline inflation is forecast at 3.6% year over year and core at 2.5%, up from the prior month's 3.4% headline. Third-quarter earnings season continues with JPMorgan Chase, Goldman Sachs and Citigroup scheduled to report later on Tuesday, offering updates on consumer demand, credit conditions and corporate activity.
The Asian selloff reflected mounting concerns about the AI trade. Broadcom's CEO described current AI investing as "casino-like," weighing on investor confidence, while reported advances in memory-chip technology at China's CXMT raised concerns about stronger competition for established chipmakers.
Derivatives data point to forced deleveraging rather than new positioning. Twenty-four-hour futures volume rose 66% to $212 billion from $126 billion the prior day, while open interest fell 1.58% to $143.4 billion and liquidations rose 284% to $813 million. Taker volume showed sellers holding a slight edge at a 48%/52% long/short split. Bitcoin and ether implied volatility remained near year-to-date lows, and heavy put volume in bitcoin pointed to continued hedging demand. Among tokens, Starknet (STRK) fell more than 17%, LayerZero (ZRO) lost 14%, and Blur slid 33% after announcing it would close its web interface on Nov. 12. Autheo (THEO) plunged 92% following a suspected exploit on Base, in which PeckShield said an attacker minted 19 million unauthorized tokens and exchanged them for 700 ETH, worth about $1.76 million. Stacks (STX) bucked the decline with an 11.4% gain.
Investors are also positioning ahead of Wednesday's U.S. CPI report, where headline inflation is forecast at 3.6% year over year and core at 2.5%, up from the prior month's 3.4% headline. Third-quarter earnings season continues with JPMorgan Chase, Goldman Sachs and Citigroup scheduled to report later on Tuesday, offering updates on consumer demand, credit conditions and corporate activity.
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