Bitcoin hits a two-week high near $65,500 as the chip trade turns back into a tailwind
Asian semiconductor shares rebounded hard, a five-day ETF inflow streak passed $600 million, and oil pulled back on Middle East diplomacy.
Make preferred on
Share this article
Summary
- Bitcoin climbed to a two-week high around $65,500 as a rebound in Asian semiconductor stocks fueled a broader risk rally, with ether and several major tokens also advancing.
- The move has been supported by five straight days of inflows into U.S. spot bitcoin ETFs totaling more than $600 million, marking the strongest stretch of institutional buying since mid-July.
- Traders see the Federal Reserve’s late-July meeting as the key test for the rally, with low but fair crypto prices, subdued spot volumes and the prospect of further rate hikes all limiting conviction.
