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Finance

KOSPI, KOSDAQ slide over 5 percent trigger sidecar for 10th straight day

South Korean markets triggered a sidecar for the 10th straight day after the KOSPI and KOSDAQ fell more than 5 percent on July 24. The KOSPI was down 5.84 percent and the KOSDAQ fell 5.24 percent. Selling sidecars were triggered in both markets, halting program sell orders briefly. Most large-cap stocks dropped, while Samsung Biologics rose. The won strengthened against the dollar.

Crypto

Bitcoin stalls as oil surges, rate uncertainty fuels focus on FOMC

Bitcoin is trading around the $66,000 level as markets react to renewed Middle East tensions and focus on the U.S. Federal Open Market Committee meeting on July 29. A rebound in oil prices has revived inflation worries and weighed on risk assets. Technical levels show resistance near $67,000 and around $70,000, while ETF flows have yet to show a clear recovery. Markets largely expect rates to be held.

Crypto

Bitcoin shrugs off Iran shock; S&P 500 short squeeze mentioned

Bitcoin held around $66,000 despite rising tensions between the United States and Iran. It dipped about 1 percent intraday but stayed elevated after climbing near $67,000, a five-week high. Oil prices rose to their highest since June 11, while crypto and U.S. stocks remained relatively steady. A market analysis account highlighted high short interest in the S&P 500 and Russell 3000, raising the possibility of a short squeeze. Traders watched $67,000 as a key level.