Tom Lee, a well-known Ethereum supporter, has issued a rare bearish warning for Ethereum (ETH), citing a sharp sell-off in South Korean stocks as a risk factor that could spill over into the crypto market. The KOSPI index dropped over 6% due to concerns about competition in the semiconductor sector, particularly from Chinese firms, leading to emergency measures by the Korea Exchange. Lee highlighted that South Korean investors hold a significant share of crypto assets, making the market vulnerable to financial contagion and potential margin liquidations. This situation could cause short-term pain for Ethereum prices as the sell-off pressure intensifies.
Tom Lee's bearish warning on Ethereum comes as a backdrop to broader market movements. For readers following cryptocurrency trends, here is Pluang's market snapshot as of Oct 13, 2026 14:21 WIB: out of 50 major cryptocurrencies priced on Pluang, 6 rose and 43 fell today. Notable movers include VET (VeChain) at Rp132 with a 1-day change of -6.82%, ADA (Cardano) at Rp4.282 down 5.60%, and NEO (Neo) at Rp43.920 down 5.30%.
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