CoinDesk reports:

Global market volatility has intensified again, with a sharp decline in South Korean stocks and tech stock sell-offs simultaneously impacting risk assets. The crypto market was not immune: Bitcoin briefly dropped to around $62,400, SOL fell 7% in a single day, and over $600 million in long positions were liquidated across the entire market within 24 hours.

South Korea’s stock market plunge triggers a chain reaction

This round of the pullback began in the South Korean market. The KOSPI Composite Index closed down 9.99% at 8,203.84 on Tuesday, recording the second-largest single-day decline this year. Weighted stocks were hit hardest, with Samsung Electronics and SK Hynix both falling more than 12%.

Due to the high…