By Bitcoin remained above $75,000 on Friday as a sell-off in US technology stocks spread to Asian markets, raising concerns over tighter artificial intelligence (AI) regulations following the US midterm elections. BTC fell as much as 6.6% on Thursday to around $75,109 on Bitstamp before stabilizing near its 50-week simple moving average of $75,733.
The global market downturn also hit South Korea, where the KOSPI Composite Index plunged more than 8% shortly after Friday’s opening, triggering a 20-minute trading halt. The index later recovered some losses but still closed 6% lower at 5,059.69 points. In response, South Korean authorities announced a three-month exemption from the 140% margin-loan collateral requirement for brokerages, starting Monday, to reduce forced selling and market volatility.
Analysts linked the sell-off to concerns that stronger US AI regulations could affect technology companies following Democratic election gains. The Philadelphia Semiconductor Index dropped 12.2% on Thursday, while the S&P 500 and Nasdaq Composite declined 4.4% and 5.5%, respectively. Market analysts described the decline as largely technical rather than fundamental, arguing that an outright US ban on AI development remains unlikely.
https://www.techjuice.pk/bitcoin-holds-above-75000-as-ai-regulation-fears-shake-global-markets/
