Tom Lee, co-founder of Fundstrat and prominent Ethereum bull, issued an unusual bearish warning regarding ETH. He expressed concern about the impact of the more than 6% drop in South Korean benchmark KOSPI on October 13 on the crypto market, given that South Korean investors hold a significant share of the crypto market. Samsung Electronics and SK Hynix, two major South Korean semiconductor companies, were particularly affected by the massive sell-off, with the Korea Exchange forced to trigger emergency market stabilization measures. Lee anticipates short-term pain for ETH and warns about potential financial contagion that could harm the digital asset market.
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