Bitcoin fell to approximately $63,000 on Friday, declining 1.7% over the past 24 hours and 2.2% weekly, as a deepening global sell-off in chipmakers pushed risk assets lower, according to CoinDesk data. Ether remained resilient at $1,836, rising 2.4% over seven days, while Hyperliquid suffered its steepest weekly drop at 12%.
Nasdaq 100 futures declined 1.8% and S&P 500 contracts dipped 0.9% amid a 3% premarket slide by a major semiconductor ETF. Taiwanese shares entered a technical correction, and Asia’s primary benchmark hit a two-month low, whereas European markets showed relative stability due to reduced tech sector exposure.
The central question persisting in the semiconductor industry for the past month remains unresolved: Will the hundreds of billions invested in AI infrastructure by hyperscalers deliver returns justifying current valuations? TSMC’s latest financial results this week failed to provide a definitive answer.
Cryptocurrency markets mirrored broader trends this week. A soft inflation report temporarily boosted bitcoin toward $65,000, though analysts note this was primarily a macroeconomic trade. However, the ongoing chip sector downturn has reversed these gains. The Federal Reserve is set to convene on July 28 and 29, with market participants closely monitoring potential policy signals.
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