[News Brief] Apr 22, morning | Korea Exchange Triggers Circuit Breaker as KOSPI Falls 8%

Korea Exchange Triggers Circuit Breaker as KOSPI Falls 8%

According to Odaily, the Korea Exchange triggered a circuit breaker after the KOSPI index fell 8%, temporarily halting trading for 20 minutes.

A circuit breaker is a mechanism that temporarily suspends stock trading to mitigate market shock during steep index declines.

Israeli Military Strikes Military Targets in Western and Central Iran

According to Odaily, the Israeli military said the Israeli Air Force struck military targets of the Iranian regime in western and central Iran.

The announcement came amid continuing military tensions between Israel and Iran.

Iran Launches Missiles Toward Israel, Sending International Oil Prices Higher

International oil prices rose after Iran launched missiles toward Israel.

According to Josh Owens, the attack renewed uncertainty over the possibility of resumed diplomacy between the United States and Iran, as well as prospects for reopening the Strait of Hormuz.

The Strait of Hormuz is a major oil shipping route, and broader geopolitical tensions in the Middle East could affect energy prices and volatility in global financial markets.

Brent Crude Rises 3% Intraday to $94.79 per Barrel

According to Odaily, Brent crude rose 3.00% intraday to $94.79 per barrel, based on Gate Data.

A sharp rise in international oil prices could add inflationary pressure and is therefore being closely watched as a macro factor for risk assets including cryptocurrencies.

Goldman Sachs Removes Possibility of Fed Rate Cuts This Year From Forecast

Goldman Sachs removed the possibility of Federal Reserve rate cuts this year from its forecast, reflecting a stronger-than-expected U.S. labor market.

According to Odaily, Goldman Sachs economists pushed back the expected timing of the Fed’s final two rate cuts from December 2026 and March 2027 to June 2027 and December 2027.

Goldman Sachs Chief U.S. Economist Mericle said the risk of inflation becoming substantially entrenched again remains low, suggesting the likelihood of rate hikes is limited. However, he raised the probability of a modest rate hike from 10% to 20%.

In its base case, Goldman Sachs still expects two 25bp rate cuts next year, but lowered the probability of that scenario from 40% to 30%. It also revised down its U.S. unemployment rate forecast for this year from 4.6% to 4.4%.

BTC Breaks Above $64,000

BTC rose above $64,000.

According to Odaily, BTC was trading at $64,025 on OKX, up 5.59% over the past 24 hours.

As the rebound in the broader digital asset market continued, BTC moved above the $64,000 level, which had been seen as a short-term resistance zone.

ETH Breaks Above $1,700

ETH rose above $1,700, gaining 9.38% over the past 24 hours.

Odaily, citing OKX market data, reported that ETH was trading at $1,701.48.

Bank of Russia Limits Crypto Trading for Non-Qualified Investors to BTC, ETH, and USDT

The Bank of Russia will limit tradable crypto assets for non-qualified investors to Bitcoin, Ethereum, and USDT under new digital asset regulations.

On the 8th, PANews, citing Crypto Briefing, reported that the Bank of Russia rejected a proposal to immediately broaden access to cryptocurrency trading.

Deputy Governor Vladimir Chistyukhin said strict restrictions are necessary due to crypto’s high volatility, market risks, and the possibility of stablecoin limitations or freezes.

The rule is part of Russia’s digital currency bill. The bill passed its first reading in the State Duma in April and still requires further review, approval by the Federation Council, and the president’s signature to become law.

Regulators plan to maintain the investment cap at 300,000 rubles and require a knowledge test before purchasing digital assets. Unlicensed crypto lending is also set to be banned starting in 2027.

Syscoin Suffers Cross-Chain Bridge Security Incident

According to Odaily, Syscoin said via X that a security incident occurred on its cross-chain bridge, involving approximately 5 billion SYS.

The attacker is believed to have exploited a validation issue in the bridge process to create unauthorized SYS outputs on the UTXO side.

Syscoin has suspended the bridge and asked exchanges and partners to blacklist, freeze, or monitor SYS deposits associated with contaminated UTXO paths and subsequent spends.

Syscoin said it has identified the affected validation path and is preparing a fix, while urging users not to use related functions while the bridge remains suspended.

Michael Saylor Reveals Strategy’s Plan to Buy More Bitcoin

Michael Saylor revealed that Strategy plans to purchase additional Bitcoin, according to Bitcoin Historian.

The specific purchase size and timing were not disclosed. Strategy has drawn attention for its corporate Bitcoin treasury strategy.