Bitcoin Drops to $63,000 Amid Global Chipmaker Selloff

·1 views

Bitcoin retreated to around $63,000 after briefly climbing to $65,000 earlier this week. The decline was driven by a broad global selloff in semiconductor stocks, which weighed on risk assets across markets. Bitcoin had gained momentum following a softer-than-expected inflation report released this week. The chipmaker rout spread internationally, amplifying pressure on speculative and risk-sensitive investments like cryptocurrency.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

AI frenzy losing steam leaves bitcoin less volatile than South Korean stocks

Your day-ahead look for July 17, 2026

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin Drops Below $63,000 as AI Selloff and Geopolitical Tensions Hit Crypto

Bitcoin slipped under $63,000 as a broad risk-off sentiment swept across financial markets. The decline was driven by growing fatigue around AI-related stocks, which spilled over into the cryptocurrency sector. Rising tensions between the United States and Iran further dampened investor confidence. Despite the downturn, at least one technical indicator suggested that crypto assets may be approaching oversold territory as the weekend approached.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Airbnb CEO Brian Chesky Says X Account Was Hacked, Crypto Posts Were Fake

Airbnb CEO Brian Chesky announced that his account on X, formerly Twitter, was compromised by a hacker. The attacker used the account to post AI-generated content related to cryptocurrency tokenization. Chesky subsequently regained control of his account and addressed the incident publicly. He warned any new crypto-focused followers who found him through the fake posts that he would be a 'disappointing follow', signaling he has no plans to discuss crypto.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Ether and HYPE Slide as Crypto Markets Follow Global Equity Selloff

Cryptocurrency markets faced sharp declines as a broader unwinding of the chip trade rattled global markets. Ether fell approximately twice as steeply as Bitcoin during the downturn, while HYPE dropped around 10%. Japan's Nikkei stock index recorded its worst single-day performance since March, reflecting widespread risk-off sentiment. Despite the recent losses, Ether remained the only major cryptocurrency still holding a marginal weekly gain.

0 comments Read more at CoinDesk