Bitcoin holds near $66,300 as chips extend their rally and the yen hits a 40-year low

MarketsBitcoin holds near $66,300 as chips extend their rally and the yen hits a 40-year lowSemiconductor stocks led a second day of gains on AI optimism, while the yen slid past 163 per dollar for the first time since 1986.By Shaurya Malwa Jul 22, 2026, 5:03 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin hovered near $66,300, holding a two-week high as trading volumes stayed robust and price moves in major tokens remained relatively muted.The latest leg higher in bitcoin appears tied more to a powerful global semiconductor rally, led by gains in U.S. and Asian chip stocks, than to any crypto-specific catalyst.A sharp slide in the Japanese yen to its weakest level since 1986 underscores mounting currency stress that bolsters the long-run case for bitcoin as a fixed-supply asset, even if it is not yet driving short-term flows.Bitcoin held near $66,300 on Wednesday, consolidating a two-week high, as the semiconductor rally that has driven crypto all month extended into a second session and the Japanese yen sank to its weakest level in four decades.The largest cryptocurrency was up nearly 1% on the day and 3% on the week, with about $31 billion changing hands and a 24-hour range of roughly $65,400 to $66,900. Ether traded near $1,935, up 3% on the week. XRP added 2% to $1.14 and TRON edged up, while the day's laggard was hyperliquid's HYPE, down 4% to $60 and off 10% over seven sessions. Bitcoin's dominance and the majors' muted daily moves point to a market drifting higher on macro rather than any crypto-native catalyst.The engine is still the chip trade. MSCI's Asia Pacific equities gauge rose 1%, extending Tuesday's biggest one-day gain in a month, with South Korea's Kospi jumping 5% as a leveraged-position unwind that had pulled the benchmark nearly 30% off its peak appeared to be ending. Samsung and SK Hynix led, following a more than 5% jump in a U.S. semiconductor gau…

Bitcoin holds near $66,300 as chips extend their rally and the yen hits a 40-year low

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