Ether falls twice as hard as bitcoin and HYPE drops 10% as the chip trade unwinds
Cryptocurrencies including Ether and Bitcoin declined as a broader sell-off in semiconductor stocks impacted global markets. Investors are questioning the sustainability of the recent AI-driven rally as chip manufacturers face significant market pressure.
Why it matters
The correlation between crypto assets and semiconductor stocks suggests that speculative capital is retreating from high-growth sectors amid broader economic uncertainty and geopolitical tensions in the Middle East.
Ether dropped 4% to $1,850, though it remains up 4% over seven sessions and is the only major still green on the week. HYPE was the worst of them at $60, down 10% on the day and 12% on the week, its steepest stretch since June. Solana slid 2% to $75 and is off 5% for the week.
XRP eased 2% to $1.09, BNB fell 2% to $571, TRON slipped to 32 cents and dogecoin lost 2%. Bitcoin held up best of the group, down 2% to about $63,400 and 1% on the week after failing twice at $65,000.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in