Bitcoin drops toward $62,000 as the chip selloff deepens for a second day
A renewed rout in semiconductor stocks pulled risk assets lower again, and crypto kept sliding. Bitcoin is down 5% on the week, with ether and the memecoins falling harder.
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Summary
- Bitcoin slid toward $62,000 amid a broad sell-off in technology and semiconductor stocks, extending its weekly losses and pressuring risk assets globally.
- Crypto markets fell across major tokens while U.S. spot bitcoin ETFs logged a record 30-day net outflow of more than $6 billion, signaling sustained institutional de-risking.
- Analysts say bitcoin is holding a fragile floor around $60,000 ahead of a $10.6 billion options expiry, with most positions currently out-of-the-money and limited catalysts for a rebound.
