Bitcoin fell to around $63,000 on Friday, down 1.7% over 24 hours and 2.2% on the week, as a deeper selloff in chip makers dragged down risk assets, according to CoinDesk data. Ether held better at $1,836, still up 2.4% over seven days, while Hyperliquid led the losses with 8% on the day and 12% on the week.
Nasdaq 100 futures fell 1.8% and S&P 500 futures fell 0.9% as a semiconductor ETF fell 3% in premarket trading. Taiwanese shares fell in a technical correction and Asia’s main benchmark hit a two-month low. Europe fared better with lower technology exposure.
The question driving it is the one that has hung over the sector all month. Chipmakers are under scrutiny over whether the hundreds of billions spent on AI hyperscalers will produce returns to justify their valuations, and TSMC’s results this week didn’t decide that.
Crypto follows the same flow as it has all quarter. This week’s soft inflationary pressure gave bitcoin a boost towards $65,000, but it was a macro trade and the chip sale is pulling the other way. The Fed meets on July 28 and 29.
