Bitcoin falls to $62,715 as Broadcom chip miss triggers risk-off
In brief
- Bitcoin fell 1.9% to $62,715 in Asian hours, down 14.5% on the week
- Broadcom's AI-chip outlook miss halted semiconductor gains and rippled through global risk assets
- Ether fell 4.8% to $1,696, Solana dropped 5.4% to $66.51, HYPE token tumbled 14.8%
- Spot Bitcoin ETFs logged 13 straight sessions of net outflows totaling $4.4 billion since mid-May
- Asian equities slumped: South Korea's KOSPI down 4.7%, MSCI Asia-Pacific fell 1.4%
Chip Guidance Stalls the AI Rally
Broadcom's quarterly AI-chip outlook missed elevated expectations on Wednesday, pausing months of gains in semiconductor stocks. Nasdaq 100 futures slipped 0.9% on Friday, extending the index to its third consecutive day of declines. The weakness rippled across Asia, where MSCI's Asia-Pacific equities gauge fell 1.4%.
South Korea bore the brunt. The KOSPI tumbled 4.7%, with chipmaker SK Hynix off 8%. The Korean won extended a slide to a 2009 low. Emerging-market currencies weakened broadly as the Indonesian rupiah traded near its record low against the dollar on heavy foreign selling.
Crypto Follows Equities Lower
Bitcoin's 1.9% drop on the day masks deeper damage over the week. The asset is down 14.5% since last Friday, caught in the same undertow dragging equities and commodities.
Altcoins fell harder. Ether dropped 4.8% to $1,696 and is down more than 15% on the week. Solana fell 5.4% to $66.51, taking its seven-day loss to 18.5%. Hyperliquid's HYPE token, which had been the only top-10 token holding green on a weekly basis, dropped 14.8% to $62.14.
Outflows Accelerate
The pullback compounds pressure on spot Bitcoin holdings. U.S. spot bitcoin ETFs have logged 13 straight sessions of net outflows totaling roughly $4.4 billion since mid-May. Strategy filed its first disclosed bitcoin sale since 2022 earlier this week, offloading 32 BTC to fund preferred stock dividend obligations.
The momentum that carried risk assets through the first half of 2026 has stalled. Investors are reassessing the AI narrative that drove equities, chips, and crypto in tandem. Until sentiment stabilizes, volatility is likely to persist.
