Tom Lee says a 6% collapse in South Korean stocks could send Ethereum tumbling through a chain of margin calls and forced crypto sales, but the trading data from Seoul tells a very different story.
On October 13, 2026, South Korea’s main stock index, the KOSPI, fell sharply by 6.1%, dropping to 5,996 points by 10:40 a.m. Seoul time. This decline erased 388 points in just a few hours. Shortly after, Tom Lee, chairman of BitMine, cautioned that this South Korean stock crash could impact Ethereum (CRYPTO: ETH).
Lee wrote on X, “This major decline in Korean equities is likely spilling over into crypto – margin liquidations in brokerage – Koreans are major holders of crypto. Short-term pain $ETH.” While he outlined a potential…
