South Korea\'s KOSPI fell more than 8 percent in early trade, breaking below 8,000 as a slide in U.S. semiconductor shares and a rise in the won-dollar exchange rate weighed on sentiment. Samsung Electronics and SK Hynix dropped below 300,000 won and 2,000,000 won, respectively. A circuit breaker was triggered on the main board, while a sell-sidecar was activated on the KOSDAQ.

CryptoQuant said bitcoin risks turning lower after touching its 200-day moving average, a level that acted as strong resistance in past bear markets. It cited a move to the key resistance zone and expanding profit-taking as grounds for a possible short-term decline. Traders’ unrealised profit reached 17.7 percent on May 5, the highest since June last year, and realised gains jumped, including 14,600 BTC cashed out on May 4 worth about $1.2 billion.