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Bitcoin Holds Above $75K as US AI Regulation Fears Spread to Asia
Bitcoin (BTC) maintained its position above $75,000 on Friday amid a sell-off in US technology stocks that spread to Asian markets. The S&P 500 and Nasdaq Composite indices fell 4.4% and 5.5%, respectively, on Thursday. South Korea's KOSPI Composite Index plummeted 8% on Friday, triggering a circuit breaker that halted trading for 20 minutes. The index closed at 5,059.69 points, its lowest close since March 31. South Korea's deputy prime minister and finance minister announced measures to reduce forced selling, including exempting brokerages from a 140% collateral ratio on margin loans for three months. Analysts linked the Wall Street losses to fears of tighter AI regulation following the US midterm elections and existing market concerns about the sector's capital spending.