BitMine’s Tom Lee Warns KOSPI Slump Could Hit Crypto

Tom Lee warned on October 13 that South Korea’s stock market sell-off could spill into crypto as falling equities trigger brokerage margin liquidations and pressure investors who hold digital assets. His warning came as the KOSPI extended its losses, Bitcoin fell to $81,000 before recovering, and leveraged crypto traders suffered hundreds of millions of dollars in liquidations. “This major decline in Korean equities likely spilling into crypto,” Lee wrote in a post on X, pointing to two potential channels: margin liquidations in brokerage and the fact that Koreans are major holders of crypto.