Bitcoin holds $63K as AI stocks rebound; crypto lags equities
In brief
- Bitcoin near $63,300, up 0.8% in 24 hours; Ether at $1,691, up 1.8%
- BNB and Solana gained roughly 2.3% as major tokens edge higher
- Nasdaq 100 added 1.6%; semiconductor gauge jumped over 5% on SK Hynix-Nvidia pact
- Weekly losses persist: Bitcoin off 10.8%, Ether down 16%, Solana down 17%
- AI buyers returned to markets but favored equities over crypto
Crypto prices stabilize after weekly selloff
Bitcoin traded near $63,300, up approximately 0.8% over 24 hours, while Ether traded near $1,691, up 1.8%. BNB and Solana led major tokens with gains of roughly 2.3%. The modest recovery came after a brutal week for digital assets. Bitcoin declined 10.8% over the week, Ether fell 16%, and Solana declined approximately 17%. Dogecoin fell 14.7% in the same period.
Equities surge on chip optimism
Stock markets outpaced crypto's recovery. MSCI's Asia Pacific gauge rose 2.5%, while South Korea's Kospi climbed as much as 8% with SK Hynix up 11%. The semiconductor rally extended to U.S. markets. The Nasdaq 100 added 1.6% as a semiconductor gauge gained more than 5%.
The divergence reflected a shift in investor appetite. Crypto sold off alongside AI shares last week when the rout was pinned on stretched chip valuations, and both assets faced pressure as traders rotated out of crowded positions. Monday's rebound showed a clear preference. "The AI dip-buyers who hammered crypto last week came back overnight, just not for crypto," according to market analysis.
Crypto remains on the back foot as equities capture risk appetite. The week's losses suggest digital assets continue to track semiconductor and AI sentiment more closely than their own fundamental developments.
