Bitcoin continues to push above $84,000 as US stocks pull out of Korean tech sell-off

Bitcoin's price action maintained overnight gains as US stocks quickly bounced back after a dip in Korean tech stocks.

Bitcoin (BTC) continued to target $84,000 at the open on Wall Street on Tuesday, as U.S. stocks struggled to recover from South Korea's latest tech setback.

TradingView data shows that Bitcoin/USD has bounced back to near $83,800 in early US trading, maintaining much of its overnight uptrend.

BTC/USD hourly chart. Source: Cointelegraph/TradingView

Shares opened lower on the day after futures fell during Asian trading, after Korea's KOSPI composite index fell 7.4 percent in two days. Semiconductors led losses amid growing concerns about artificial intelligence costs and Chinese competition.

Both the S&P 500 and the tech-heavy Nasdaq Composite index made early gains and were briefly in the green on the day, however, both gauges were down less than 0.5 percent at the time of writing.

One-day chart of the Nasdaq Composite Index. Source: Cointelegraph/TradingView

Bitcoin remained around the liquidity of the exchange's order book, which served as resistance above $84,000, per CoinGlass data.

BTC Liquidation Heat Map Source: CoinGlass

"Bitcoin bulls are facing a double macro headwind this month," Darkfost, a fellow at CryptoQuant, said in a market commentary on Tuesday.

While bond yields have reached their highest levels in a quarter century, the strength of the US dollar has increased significantly. The U.S. dollar index ( DXY ), which compares the greenback against a basket of U.S. trading partner currencies, rose 5.5 percent to 102.57 on the day since Sept. 9, its highest level since April 2025.

One-week chart of the US Dollar Index (DXY). Source: Cointelegraph/TradingView

While the traditional inverse correlation between DXY and BTC has declined this year, a post on the chain analytics platform suggests that cryptocurrency markets are suffering from a lack of risk tolerance.

Collectively, these factors limit the liquidity available in the markets and destroy institutional confidence and make them unwilling to accept more risk. He wrote in this blog: