KOSPI Crashes 10%, $1T Wiped From U.S. Stocks & Bitcoin Tests $62K on Dollar Surge [QZqta95kvAN]
Market Update — 24.06.2026 A modest U.S. technology stock selloff on Monday cascaded into Asian markets on Tuesday, triggering a sharp decline in South Korea where the KOSPI plunged nearly 10% — with Samsung and SK Hynix each falling more than 12% at their lows. Approximately $1 trillion in market value was erased from Wall Street during yesterday's session. The U.S. Dollar Index climbed to a 13-month high, historically a signal of tightening global financial conditions that creates headwinds for both equity and crypto markets. Rate hike probability for December has surged from 23% to 77%, darkening the liquidity outlook further. Bitcoin briefly fell below $62,000 while Ethereum continues to trade below $1,700. HYPE was among the weakest performers, declining more than 7% on the day and extending its seven-day loss to 17.55%. More than $550 million in leveraged positions were liquidated over the past 24 hours, with long positions accounting for nearly $480 million. U.S. spot Bitcoin ETFs have now recorded six consecutive weeks of net outflows, with the current week tracking toward a seventh at approximately $200 million in outflows so far. Despite the price weakness, Ethereum's underlying network growth remains strong. Monthly active users surged nearly 86% year-over-year to a record 13.2 million in Q1 2026, while transaction activity also reached new highs. Tokenized assets on Ethereum climbed to $203.4 billion, driven by adoption from BlackRock, Circle, and Tether — reinforcing Ethereum's transition into a core infrastructure layer for tokenized finance, stablecoins, and institutional on-chain activity. Elsewhere: the Ethereum Foundation cut 20% of staff in a major restructuring aimed at improving efficiency; Meta is developing a prediction market app called Arena as the forecasting sector continues to grow; and crypto liquidity conditions are weakening as December rate hike odds have risen sharply to 77%. Market Snapshot — 24.06.2026, 09:45 AM CET Global Market Cap: $2.15T | BTC Dominance: 58.5% | Fear & Greed: 20 (Fear) Top performers: ALPH +15.20% | AVAX +4.10% | SUI +2.65% Daily Market Updates are published every trading day by the Bitcoin Suisse Trade Desk. Subscribe for institutional-grade crypto market intelligence — from natives who've been here since 2013. 🔔 Subscribe for daily updates 🌐 bitcoinsuisse.com This content is for informational purposes only and does not constitute investment advice. Crypto assets involve significant risks, including total loss of capital. Bitcoin Suisse AG is regulated in Switzerland. Full disclaimer: