Ether falls twice as hard as bitcoin and HYPE drops 10% as the chip trade unwinds

MarketsEther falls twice as hard as bitcoin and HYPE drops 10% as the chip trade unwindsJapan's Nikkei had its worst day since March. Ether is still the only major holding a gain on the week, barely.By Shaurya Malwa Jul 17, 2026, 7:29 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowA sharp sell-off in Asian semiconductor stocks, led by steep drops in Japan’s Nikkei and Taiwan Semiconductor, spilled into crypto markets and dragged major tokens lower on Friday.Ether fell about 4 percent to $1,850, underperforming bitcoin despite strong inflows of nearly $97 million into U.S. spot ether ETFs this week, most of it into BlackRock’s funds.Market participants describe the move as consolidation under resistance rather than a confirmed reversal, even as sentiment gauges sit in extreme fear and oil prices surge on escalating Middle East tensions.Ether (ETH) fell twice as hard as bitcoin on Friday and hyperliquid's HYPE fell more than five times as hard, as a selloff in Asian semiconductor shares dragged every major cryptocurrency lower.Ether dropped 4% to $1,850, though it remains up 4% over seven sessions and is the only major still green on the week. HYPE was the worst of them at $60, down 10% on the day and 12% on the week, its steepest stretch since June. Solana slid 2% to $75 and is off 5% for the week. XRP eased 2% to $1.09, BNB fell 2% to $571, TRON slipped to 32 cents and dogecoin lost 2%. Bitcoin held up best of the group, down 2% to about $63,400 and 1% on the week after failing twice at $65,000.The selling started in semiconductors. MSCI's Asia Pacific equities gauge dropped 3%, heading for its lowest close in two months, while Japan's Nikkei 225 slumped 5% in its worst session since March. Taiwan Semiconductor was on track for its biggest one-day decline since April 2025 and Japan's Kioxia sank as much as 16%.Last Friday bitcoin rose 4% on the day South Korea's Kospi jumped 8% a…

Ether falls twice as hard as bitcoin and HYPE drops 10% as the chip trade unwinds

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