Cardano Founder to Launch Bitcoin DeFi Protocol Cardinal on Cardano

AguilaTrades(@AguilaTrades), who has lost a total of $38M, is back again! 4 hours ago, he opened a 40x short on 124.24 $BTC ($10.14M) and is already up $165K in unrealized profit. Liquidation price: $83,432.22

Jiang Zhuoer, founder of BTC.TOP Mining Pool, said in a recent article that Bitcoin is likely to fall below $80,000 but will unlikely drop below $77,000. $77,000 serves as both the Point of Control (POC) of the previous consolidation range and the POC since the August 19 rally — the price level with the highest trading volume in the respective range. He also noted the market is unlikely to dip below $75,000, giving investors a comfortable entry point.

Tom Lee, chairman of Ethereum treasury firm BitMine, said the sharp fall in South Korea’s stock market may be spilling over to the crypto market. He pointed to margin calls from brokerages, noting that South Korean investors are a key cohort holding crypto assets, and described the impact as a "short-term pain".

According to Lookonchain's monitoring, as the market declined, trader 0xb4a3's entire long position of 500,000 NEAR tokens, valued at approximately $2.64 million, has been fully liquidated.

As the market dropped, $NEAR bull 0xb4a3 was fully liquidated on his 500,000 $NEAR ($2.64M) long position.

According to Bitget data, South Korea’s stock index plummeted 5%, with SK Hynix’s intraday decline widening to 7% and Samsung Electronics falling 5.89%. Samsung Electronics and SK Hynix shares extended their recent sell-off, as market concerns over Chinese competitors and overextended AI stock rallies intensified. On October 13, both companies’ shares dropped more than 5%, marking their fifth consecutive trading day of declines, which dragged down the Korea Composite Stock Price Index (Kospi) by 5%. U.S. chip stocks also fell overnight, with memory chip maker Micron Technology down 3.9%. On the news front, China’s ChangXin Memory Technologies (CXMT) has made progress on a new memory architecture that Samsung Electronics and SK Hynix are also developing. Additionally, comments from Broadcom’s CEO that AI stock investments have gambling-like characteristics further amplified market concerns. Ha SeokKeun, chief investment officer at Eugene Asset Management, said: “The market is uncertain whether this upward cycle can last until 2028 and beyond, which appears to be weighing on the valuations and share prices of South Korean chipmakers.”