Bitcoin's price dropped to around $63,000 on Friday, marking a 1.7% decline in the last 24 hours and a 2.2% decrease over the week. This downturn follows a notable selloff in semiconductor stocks that has adversely affected risk assets. In contrast, Ether saw a rise to $1,836, gaining 2.4% over the past week, while Hyperliquid faced significant losses, falling 8% for the day and 12% weekly.
The Nasdaq 100 futures fell by 1.8%, and S&P 500 contracts dropped 0.9%, as a semiconductor ETF fell by 3% in premarket trading. Taiwanese stocks entered a technical correction, and major Asian indexes hit a two-month low, although European markets showed resilience due to less exposure to technology stocks.
Concerns persist in the semiconductor sector about whether the heavy investments by AI hyperscalers will generate adequate returns to support their high valuations. Recent results from TSMC did not clarify these uncertainties.
