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Ether falls harder than bitcoin as Asian chip selloff hits crypto

U.S. spot ether ETFs pulled in about $97 million over the first three days of the week, but ether still dropped about 4% to $1,850.

Reported · Written up by our desk · Market Structure

CoinDesk reports a broad risk selloff that started in Asian semiconductor stocks spread into crypto markets on Friday, pulling major tokens lower even as sentiment gauges sit in extreme fear.

Ether fell about 4% to $1,850 and underperformed bitcoin, which dropped about 2% to around $63,400. CoinDesk says ether was the only major cryptocurrency still green on the week, up about 4% over seven sessions, while hyperliquid’s HYPE slid about 10% on the day to $60 and about 12% for the week.

Other major coins also weakened, with Solana down about 2% to $75, XRP down about 2% to $1.09, BNB down about 2% to $571, TRON around 32 cents, and dogecoin down about 2%. CoinDesk links the crypto move to steep declines in Japan’s Nikkei and Taiwan Semiconductor, with the Asia Pacific equities gauge down about 3% and Japan’s Nikkei down about 5% in its worst session since March.

CoinDesk notes that U.S. spot ether ETFs saw inflows of nearly $97 million over the first three days of the week, mostly into BlackRock’s funds, but that buying did not prevent ether from sliding harder than bitcoin. Wintermute’s OTC desk characterized the drop as consolidation under resistance, saying spot volumes fell rather than rose as prices tested higher levels.

Latest closeBitcoin $62,826.25 ▼1.5%|Solana $74.54 ▼1.0%|XRP $1.085 ▼0.1%

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