Bitcoin flat near $64,000 as Kospi's record 17% surge leaves crypto untouched
Bitcoin prices remained stagnant near $64,000 despite a massive 17% surge in the South Korean Kospi index driven by chipmakers. While tech stocks rebounded, crypto assets showed little reaction to market movements or a recent security breach involving hardware wallets.
Why it matters
The decoupling of crypto from traditional tech stock rallies suggests shifting investor sentiment and potential market fatigue in the digital asset space.
The majors were close to unchanged. Ether traded at $1,907, XRP at $1.08, solana at $74 and dogecoin at $0.07, with roughly $27 billion changing hands in bitcoin and $7 billion in ether. BNB was the exception, up 3% on the day to $590 and the only major holding a meaningful weekly gain. Bitcoin spiked to $65,300 in early Asian hours before giving it back within an hour.
The weekly picture stays soft. Hyperliquid's HYPE is down 5% over seven sessions, solana and XRP are each off 3%, and bitcoin has lost 2%. Ether and dogecoin are up 1%.
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