Bitcoin dips below $80,000 as Samsung-led tech jitters and a hawkish Fed weigh on crypto
Source: CoinDesk ·
From the source
Bitcoin fell below $80,000 as Samsung-driven tech weakness and a hawkish Fed hold triggered a broad risk-off move. Crypto futures saw $356 million in liquidations. Bitcoin BTC $79,805.30 fell below $80,000 during Thursday’s Asian trading session, reversing a two-day rebound as a fresh wave of risk aversion swept through global technology stocks. The largest cryptocurrency dropped from above $81,700 to around $79,800, dragging the broader crypto market lower and triggering a wave of liquidations among traders betting on a rally. The selloff began in Asia, where Samsung shares fell more than 5% after its semiconductor division missed elevated investor expectations . While the chip unit reported a 15-fold surge in operating profit to 106.5 trillion won for the three months through September, the result fell just short of the average analyst estimate of 108.5 trillion won. Samsung also said it expects capital expenditure to reach 84.4 trillion won, or about $63 billion, this year—up…