Bitcoin, ether slip and rebound as South Korean stocks slide on AI-related concerns

South Korea’s equity benchmark plunged 5.5% on Tuesday, leaving the index roughly 38% below its June all-time high. Crypto also saw sharp swings, with bitcoin BTC $83,696.96 falling below $81,000 before rebounding above $84,000 and settling just above $83,000. Ether ETH $2,487.96 fell as low as $2,400. The Asian selloff reflected mounting concerns about the AI trade. Broadcom CEO called current AI investing “ casino-like ”, knocking investor confidence and reported advances in memory-chip technology at China’s CXMT raised concerns of stronger competition for established chipmakers.