Today is very green! The Taiwan stock market opened with a thousand-point plunge, Bitcoin dropped below 62k, and the Korean stock market revived with Samsung and SK rebounding.

U.S. stocks plummeted, dragging the Taiwan stock market to open with a drop of over a thousand points, with TSMC falling sharply. Meanwhile, South Korean stocks rebounded against the trend led by major companies like Samsung. Bitcoin was affected by tech stock volatility and capital flow into AI, briefly dropping below $62k twice during the trading session.

Today’s Green! Taiwan stocks open with a thousand-point plunge

Affected by the sharp decline in U.S. tech stocks, Taiwan stocks experienced selling pressure at the open today (6/24), plunging over 1,050 points at one point; South Korean stocks, led by chip giants Samsung Electronics and SK Hynix, rebounded strongly.

At the same time, Bitcoin maintained a low-volatility sideways trend, falling below $62,000 twice yesterday, reflecting market uncertainty amid macroeconomic and capital flow changes.

Falling semi stocks drag Taiwan stocks down at open, Korean chip giants rebound

According to the Economic Daily and CNBC, the Philadelphia Semiconductor Index in the U.S. fell sharply by 7.87%, causing Taiwan futures to plunge by 1,230 points overnight.

The Taiwan July futures opened down 579 points at 46,858, with TSMC opening below its 5-day moving average, down 55 NT dollars to 2,435 NT dollars. This dragged the broader market’s decline to over 1,050 points at one point, with the 46,000 level facing a defense battle. However, by the time of writing, the decline narrowed, and the index had recovered above 46,400.

Institutional investors pointed out that Taiwan stocks’ short-term technical outlook has weakened, but Taiwan’s export orders have been positive for 16 consecutive months, supporting the fundamentals.

Compared to Taiwan stocks’ correction, South Korean stocks rebounded after a 10% drop the previous day, with the KOSPI index surging 4.5% intraday, now narrowing gains to 2.98%. Samsung Electronics surged over 9% on rumors of treasury stock buybacks, while SK Hynix rose over 4%.

Morgan Stanley analyst Joon Seok said that the memory and AI supply chain fundamentals remain solid, and this volatility is a breather after a big rally; Wedbush Securities analyst Dan Ives also stated that Asian AI demand shows no cracks, and the sell-off is just a temporary pause; Citibank analyst Peter Lee raised Samsung’s earnings estimates based on an improved market environment.

Bitcoin fails to hold $65k, facing tests ahead

In the cryptocurrency market, Bitcoin was also affected by tech stock volatility. It briefly fell below $62,000 twice during the day, triggering liquidation of positions worth a total of $1 billion within 24 hours.

Famous financial analysis media The Kobeissi Letter pointed out that speculation around Micron Technology’s earnings report drove this volatility.

Crypto trader Daan Crypto Trades analyzed from a technical perspective that because Bitcoin failed to hold the $65,000 level, the price quickly dropped seeking liquidity.

Image source: Daan Crypto Trades/CoinGlass Liquidity chart of Bitcoin price zones

Deutsche Bank analysis on why Bitcoin remains sluggish

Deutsche Bank’s report states that Bitcoin fell below $60,000 on June 5, but has since rebounded to the $62,000 range, representing a decline of over 50% from its 2025 high.

Analyst Marion Laboure said that Bitcoin has evolved into a systemic risk asset, as economists expect the Federal Reserve to raise interest rates twice in 2026, reversing the easing policy expectations. Additionally, Bitcoin spot ETFs have experienced net outflows for six consecutive weeks totaling $6 billion, and US tech giants are expected to invest over $700 billion into AI development by 2026, causing capital rotation.

Laboure emphasized that current marginal buyers have shifted to ETF allocators and corporate reserves, who are continuously weighing Bitcoin against AI opportunities.

Further reading:
CryptoQuant Founder: The biggest risk for Bitcoin isn’t a crash but “boring sideways trading”!

MicroStrategy sells stocks to buy 520 Bitcoin! CEO personally purchases millions in BTC, STRC, at normal prices

This content is compiled by Crypto Agent from various sources, reviewed and edited by Crypto City. It is still in training, so there may be logical biases or informational errors. Content is for reference only and should not be considered investment advice.