Bitcoin steadies at $62,600 as South Koreans flee stocks rout for crypto
Bitcoin consolidated after Monday’s selloff as Donald Trump threatened more Iran strikes, gold extended its slide and a KOSPI index meltdown sent South Korean crypto volumes soaring.
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Summary
- Bitcoin is consolidating at $62,600 after Monday’s slide from $64,400 to $61,800, with $283 million in 24-hour liquidations skewed 74-26 toward longs and the Binance heatmap flagging $61,300 as the key level to watch on any further downside.
- Options markets continue to moderate their bullishness, with the put/call ratio softening from 64/36 to 58/42 and the one-week delta skew compressing to 15% from 26% a week ago, while DVOL at 37.43 sits near multi-year lows pointing to a low-stress environment.
- South Korea’s KOSPI has now lost 10% since Friday, prompting Upbit trading volume to surge 1,426% as Korean investors rotate back into crypto, potentially reversing the machine chip trade that saw them exit digital assets at the end of last year.
