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Bitcoin drops below $81,000, South Korea's KOSPI index plummets 8%, Nikkei 225 index falls 5%.
Asian stocks plummeted on Thursday, driven by risk aversion following stronger-than-expected US inflation data. South Korea's KOSPI index plunged 8% in early trading, with chipmakers Samsung Electronics and SK Hynix both falling over 9%. Japan's Nikkei 225 index dropped 5.2%. Bitcoin also remained under pressure during Asian trading hours, falling below $81,000, down 3.6% over the past 24 hours to $80,764. Ethereum fell 6.5% to $2,353. The cryptocurrency market saw nearly $1 billion in liquidations over the past 24 hours, with long positions accounting for $876.3 million.
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