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Bitcoin slips to about $63,000 amid global chip selloff
Ether held up better around $1,836, while losses spread to other tokens, with Hyperliquid down 8% on the day.
Bitcoin fell to about $63,000 on Friday, down 1.7% over 24 hours and 2.2% on the week, as a selloff in chipmakers dragged down broader risk assets, according to CoinDesk data.
Ether was comparatively resilient, trading around $1,836 and up 2.4% over seven days, while Hyperliquid led decliners, dropping 8% on the day and 12% on the week.
CoinDesk linked the move to weakening sentiment in tech, noting that Nasdaq 100 futures slid 1.8% and S&P 500 contracts fell 0.9% alongside a 3% drop in a semiconductor ETF in premarket trading, and that Asian markets hit a two-month low.
The outlet said this month’s market focus has centered on whether AI spending by hyperscalers will generate returns strong enough to support chip valuations, adding that a softer inflation print this week had previously lifted bitcoin toward $65,000, but the chip trade is now pushing the other way as the Fed’s July 28 to 29 meeting approaches.
Latest closeBitcoin $81,906.63 ▼1.4%|S&P 500 7,765.36 ▼0.5%|Nasdaq Comp. 27,193.34 ▼1.2%