Bitcoin holds $75K as AI regulation fears see KOSPI halted after 8% crash

Bitcoin (BTC) held above $75,000 on Friday as a sell-off in US technology stocks spread to Asian markets.

Bitcoin steadied after falling as much as 6.6% on Thursday to $75.109 on Bitstamp.

South Korea’s KOSPI triggered a trading halt after falling more than 8% shortly after Friday’s open. The government announced a three-month waiver of margin-loan collateral requirements for brokerages from Monday.

Analysis cited fears of tighter US regulation of AI following Democrats’ election gains. The Philadelphia Semiconductor Index fell 12.2% on Thursday.

South Korea eases collateral rules as KOSPI falls 6%

Data from TradingView showed BTC/USD trading near its 50-week simple moving average (SMA), at $75,733.

BTC/USD one-day chart with 50-week SMA. Source: Cointelegraph/TradingView