Investors buy the dip in crypto-related stocks amid market slump

Buying interest in crypto-related stocks has rebounded despite a broader market downturn that has seen their prices fall, The Herald Business reported, citing data from the Korea Securities Depository. According to the data, investors made net purchases of Bitmine (BMNR), Circle (CRCL), and IREN (IREN) totaling $87.23 million, $56.92 million, and $59.68 million, respectively, over the five trading days from Nov. 13 to 19. Hong Jin-hyun, a researcher at Samsung Securities, assessed the current market as a period of heightened short-term volatility. However, Hong predicted that the impact of the current correction is likely to be more limited than in previous years, citing an accumulation of favorable news, such as the trend toward institutional adoption, and strong demand from long-term investors.