Crypto market today: Bitcoin holds $80K as Kospi rout hits alts

Metric	Latest reading
Bitcoin	Just above $80,000, near $81,000 earlier in the session
South Korea’s Kospi	Down 8%
CoinDesk 80	Down 2.2%
CoinDesk 100	All but six members lower
EOS	Down 10%

Key takeaways

• Bitcoin held above $80,000 while an equity rout in Asia, led by South Korea’s chip-heavy Kospi, pulled altcoins lower.
• Investors moved into fixed income, and Western bond markets rallied strongly on Thursday.
• A hot U.S. CPI reading fed bets on a rate hike, according to Investing.com.
• Ledger plans a smartphone with a protected mode for digital assets. Hyperliquid’s founder and Australia’s ASIC both made regulatory news.

Crypto market today: Bitcoin holds $80,000 as Asia sells off

Bitcoin slipped to just above $80,000 on Thursday as the Kospi plunged 8%, according to CoinDesk. Altcoins fared worse than the largest token. The CoinDesk 80 index fell 2.2%, and only six members of the CoinDesk 100 avoided declines.

CoinDesk’s live coverage said bitcoin traded near $81,000 as the chip-heavy Kospi kept falling. The outlet tied the move to a worsening AI-related selloff. Investing.com reported that the token had dropped to about $81,000 after a hotter-than-expected U.S. consumer price index reading increased bets on a rate hike.

The two drivers point the same way. Inflation worries and an equity retreat are both pushing traders toward safer assets, and crypto is trading with other risk assets rather than apart from them.

Bonds and gold gain as risk assets fall

CoinDesk’s morning Daybook summed up the session in its headline: bitcoin, copper, stocks and yields all fell, while gold rose. Falling yields mean rising bond prices. That matches CoinDesk’s live-blog description of money flowing into fixed income as equity jitters spread, with Western bond markets rallying strongly.

Falling copper alongside equities suggests the pullback is broad, not confined to crypto. Watch whether the Kospi stabilizes and whether bond buying persists. A calmer Asian session would reduce pressure on altcoins. A further drop could test the $80,000 level that bitcoin is currently defending.

Altcoins take the heavier losses

Investing.com reported that EOS fell 10% in what it called a rout. The decline fits the wider pattern of smaller tokens falling harder than bitcoin. The 2.2% drop in the CoinDesk 80 and the near-universal declines across the CoinDesk 100 show the weakness was widespread.

Ledger plans a hardware-wallet smartphone

Ledger has unveiled a plan to turn its hardware wallet into a smartphone, CoinDesk reported, saying the company is under pressure. The device, called Atom, would run mainstream apps such as WhatsApp and Instagram. Users could switch between ordinary smartphone functions and a protected mode for managing digital assets.

The design aims to combine daily phone use with the isolation that hardware wallets are known for. Pricing, a launch date and security details were not part of the report. Those will determine whether the product appeals beyond existing Ledger customers.

Hyperliquid’s founder: regulate platforms, not the chain

Jeff Yan, founder of Hyperliquid, told Bloomberg that U.S. regulatory oversight should apply to the firms that use the blockchain, not to the underlying network, CoinDesk reported. The argument separates infrastructure from the businesses built on it. Policymakers weighing how to treat decentralized trading venues are likely to face similar arguments.

ASIC proposes tougher rules for crypto exchanges

Australia’s financial regulator, ASIC, has proposed stricter rules for crypto exchanges ahead of a licensing deadline, according to CoinDesk. The proposals aim to protect users’ digital assets and crypto trading, and to safeguard the country’s financial stability. Exchanges serving Australian customers will need to prepare for tighter obligations as the deadline nears. The next step is the regulator’s consultation and the final shape of the rules.