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Bitcoin Diverges from South Korean Stocks Amid AI Concerns
South Korea's chipmakers lead a sharp selloff in the KOSPI, falling 5.5% during Asian trading. Bitcoin, which bottomed near $58,000 shortly after the KOSPI peaked, has since rebounded to as high as $87,000. The latest selloff followed comments from Broadcom CEO Hock Tan, who likened speculative AI investing to gambling, and advances by Chinese memory-chip rival CXMT, adding to fears about competition and margins.