Bitcoin rises toward $64,000 as Korea’s record chip crash leaves crypto untouched
SK Hynix fell 17% after profit rose 557% and still missed estimates. Bitcoin is up 1%, and the Fed decides rates today.
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Summary
- Bitcoin and major cryptocurrencies inched higher even as Asian equity markets, led by chipmakers, suffered one of their steepest two-day sell-offs of the year.
- The sharp drop in SK Hynix and Samsung shares underscored how sky-high expectations for AI-driven demand are being reassessed after a massive run-up in global tech stocks.
- Bitcoin’s resilience through two recent tech routs suggests its tight correlation with AI-linked equities may be weakening, even as regulatory uncertainty and upcoming Federal Reserve and economic data loom over markets.
