Tom Lee warns of ETH risk as Korean stock crash triggers crypto sell-off

Tom Lee, co-founder of Fundstrat and a well-known Ethereum supporter, has taken an unexpected bearish stance on ETH, citing growing turbulence in the South Korean stock market as a potential catalyst for further downside in the cryptocurrency market. In a recent statement on X, Lee raised concerns about the sudden and steep decline in South Korean equities and its possible spillover effects on digital assets. South Korea’s benchmark KOSPI index plunged over 6% on Tuesday, October 13, following widespread sell-offs in technology and semiconductor stocks, prompting emergency stabilization efforts by the Korea Exchange.