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Finance

Foreign selling of 2.5 trillion won pulls KOSPI down 0.25%, but it holds 7,000

South Korea\'s KOSPI fell on Thursday as foreigners stepped up selling, but it held the 7,000 mark after recovering most intraday losses on buying by institutions and retail investors. The index closed down 0.25% at 7,033.92 after briefly sliding to the 6,900 level. Foreigners were net sellers of 2.49 trillion won, while individuals and institutions were net buyers. The won ended firmer against the dollar and the Kosdaq rose.

Crypto

Why bitcoin cannot clear $80,000 as oil surge to $100 adds pressure

Bitcoin erased overnight gains after U.S. stocks opened on Sept. 9, as investors grew cautious ahead of U.S. producer and consumer price data. Major altcoins also fell. Brent crude climbed above $100 a barrel for the first time since July 23, adding pressure on risk assets, while Treasury yields stayed high. Spot bitcoin ETF flows turned negative on Sept. 8. In contrast, Zcash surged on ETF-related developments and the launch of options trading.

Crypto

Wintermute says bitcoin bull market still in early stage; watch $82,000 and $72,000

Some investors who think they missed the entry point after bitcoin’s sharp rise may instead miss the early phase of a new bull cycle, U.Today reported. Market maker Wintermute said the current move is a pause before the next leg higher, citing stock-market fatigue and a rotation of funds into bitcoin and ether. It flagged $82,000 and $72,000 as key levels and said the U.S. CPI on Sept. 11 is a major variable.