South Korea's KOSPI index plunged over 6%, causing concerns that forced liquidations in Korean stock markets could spill over into cryptocurrency markets, pressuring Ethereum prices. Fundstrat co-founder Tom Lee warned that margin calls might force Korean investors to sell cryptocurrencies to cover losses. Ethereum traded near $2,530, down over 6% in a week, while U.S. Ethereum ETFs saw $85.4 million in outflows, adding to market pressure. BitMine, which controls about 4.9% of Ethereum's supply, continues accumulating ETH but may slow buying after reaching its target, impacting future institutional demand. Despite short-term risks, Lee remains optimistic about Ethereum's long-term prospects.
Ethereum price concerns are noted as of Oct 13, 2026 19:44 WIB. For readers following cryptocurrency markets, here is Pluang's market snapshot: out of 50 major cryptocurrencies priced on Pluang, 7 rose and 42 fell today. Notable movers include COMP (Compound) down 8.90% at Rp414.057 with 91% buy order activity, ZIL (Zilliqa) down 8.78% at Rp61 with 82% sell order activity, and ALGO (Algorand) down 8.52% at Rp2.105 with 76% buy order activity. The most notable figure is COMP's 8.90% decline.
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