Bitcoin rises toward $64,000 as Korea's record chip crash leaves crypto untouched

MarketsBitcoin rises toward $64,000 as Korea's record chip crash leaves crypto untouchedSK Hynix fell 17% after profit rose 557% and still missed estimates. Bitcoin is up 1%, and the Fed decides rates today.By Shaurya Malwa Jul 29, 2026, 5:32 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin and major cryptocurrencies inched higher even as Asian equity markets, led by chipmakers, suffered one of their steepest two-day sell-offs of the year.The sharp drop in SK Hynix and Samsung shares underscored how sky-high expectations for AI-driven demand are being reassessed after a massive run-up in global tech stocks.Bitcoin’s resilience through two recent tech routs suggests its tight correlation with AI-linked equities may be weakening, even as regulatory uncertainty and upcoming Federal Reserve and economic data loom over markets.Bitcoin climbed 1% to about $63,800 on Wednesday while Asian equity markets suffered one of their worst stretches of the year, the second time in a seven-day period that crypto has held through a sharp unwind in the artificial intelligence trade.The majors moved with it. Ether rose 1% to $1,899, XRP added 2% to $1.07, BNB gained to $567, solana held at $73, and dogecoin edged up. Hyperliquid’s HYPE was the only major in the red, down 3% to $54.The damage in equities was concentrated in chipmakers. South Korea’s benchmark tumbled 11%, following an 11% drop on Tuesday and putting the index on course for a record two-day decline. SK Hynix fell about 17% after reporting a 557% surge in quarterly profit that still came in below expectations, andSamsung slid 12% ahead of its own results on Thursday. The MSCI Asia Pacific index dropped 2% to its lowest since mid-April, and Nasdaq 100 futures fell 1%, extending a five-day losing streak for the tech-heavy gauge, its longest this year.SK Hynix’s numbers showed the company grew quarterly profit more than sixfold, and…

Bitcoin rises toward $64,000 as Korea's record chip crash leaves crypto untouched

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