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Bitcoin plunges to near $62,000 as the AI trade unwinds, HYPE falls 14%
Key takeaways
- Ether dropped a sharper 4.8% to $1,696 and is now down more than 15% on the week, while Solana fell 5.4% to $66.51, taking its seven-day loss to 18.5%.
- Broadcom's quarterly AI-chip outlook missed elevated expectations on Wednesday, pausing a months-long advance in semiconductor stocks from their war-driven lows.
- Nasdaq 100 futures slipped 0.9% on Friday, extending the index to a third straight day of declines.
Ether dropped a sharper 4.8% to $1,696 and is now down more than 15% on the week, while Solana fell 5.4% to $66.51, taking its seven-day loss to 18.5%.
The selloff was led from outside crypto. Broadcom's quarterly AI-chip outlook missed elevated expectations on Wednesday, pausing a months-long advance in semiconductor stocks from their war-driven lows.
Nasdaq 100 futures slipped 0.9% on Friday, extending the index to a third straight day of declines. South Korea's KOSPI, the best-performing major equity index this year and the cleanest tape on the AI buildout, tumbled 4.7%, with chipmaker SK Hynix off 8%. MSCI's Asia-Pacific equities gauge fell 1.4%.
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