Tom Lee Links Korea's Chip Selloff to Crypto Market Opportunities

BitMine Chairman Tom Lee states that de-risking in the US, South Korea, and Taiwan is impacting crypto markets. Ethereum (ETH) fell 1.91% over seven days, while Bitcoin (BTC) decreased by 0.177%. Lee attributes this to factors such as AI funding concerns, US-Iran tensions, midterm election anxieties, and rising bond yields. The KOSPI index in South Korea dropped 17% in October through October 16, with a further decline of 3.5% at Tuesday's open. Major companies Samsung Electronics and SK Hynix saw significant losses of 19.74% and 28.38%, respectively. Forced liquidations exceeded 50 billion won for four consecutive sessions. In contrast, Taiwan's TAIEX fell only 1.73% during the same period. Lee connects the regional selloff to crypto, noting that investors in these areas tend to de-risk, affecting crypto markets. Korean investors contributed a net 1.4 billion dollars to BitMine shares in 2025. Currently, Bitcoin trades at 81385 dollars, down 1.21% in 24 hours, while ETH is at 2387.07 dollars, down 1.47%. ETH remains 52% below its peak of 4946.05 dollars from August 2025. Lee believes the price drop presents a buying opportunity, citing historical patterns where resilient fundamentals amid price declines offer attractive risk/reward scenarios. However, he acknowledges that rising borrowing costs could counteract this, and the future of ETH depends on whether forced selling in Seoul decreases.

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