# South Korea Stock Crash Could Drag Bitcoin Below Key Support The KOSPI index plunge raises risk sentiment in global markets. - **Source:** [CryptoPotato](https://brifing.si/source/bd22636b-ec8d-42a8-8cca-1937c50e0f6c) - **Published:** 2026-07-13 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/14024ae9-246e-4e26-b6fa-792734e35488 ## KOSPI Index Plunge South Korea's KOSPI index fell by 8.95% on July 13, triggering a circuit breaker. Major companies like SK Hynix lost over 15%, increasing risk sentiment in global markets. ## Impact on Global Markets The KOSPI's decline could lead to a broader risk-off move affecting US equities and crypto assets. Analysts warn that Bitcoin might drop below its key support levels. ## Bitcoin's Situation Bitcoin dropped below $58,000 in early July, then briefly surpassed $64,000. However, the KOSPI crash and global uncertainties pushed it back below $63,000. ## Analysts' Views Ash Crypto pointed to US-Iran tensions and Bank of Japan interventions as factors behind Bitcoin's decline. Hupzy warned that the KOSPI crash could push Bitcoin below support levels. ## Support Levels Analyst Ted Pillows emphasized that Bitcoin needs to hold the $62,500 level; otherwise, it could drop below $61,000. Technical analysis indicates Bitcoin is at a critical juncture. ## Future of Global Markets The KOSPI crash has raised concerns about the level of support global markets might have if selling pressure continues. Analysts predict the risk-off sentiment could persist. ## Sources covering this story - https://cryptopotato.com/south-korea-stock-crash-could-drag-bitcoin-below-key-support-analyst/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._