Bitcoin Holds Firm as Korean Chip Rout Drags Asian Stocks Lower
South Korea’s semiconductor heavyweights are key gauges of Asian technology demand and broader risk appetite, meaning sharp declines in Samsung Electronics and SK Hynix can reverberate across regional markets. The latest selloff, however, failed to trigger comparable weakness in cryptocurrencies, offering a fresh test of Bitcoin’s tendency to trade as both a speculative risk asset and, at times, an alternative asset with drivers distinct from equities.
On Aug. 19, shares of Samsung Electronics, SK Hynix and other Korean chipmakers tumbled more than 7%, weighing on Asian stock markets. Bitcoin held near $64,000 while most major cryptocurrencies advanced, showing little immediate reaction to the equity rout. Market analysts said the divergence suggested digital assets were temporarily decoupling from traditional risk markets, though a single trading session would not establish a durable break in their longer-term correlation.
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The history behind this eventBitcoin Nears $64,000 as Korean Chip Stocks Crash
South Korea sits at the center of the artificial-intelligence memory supply chain, making SK Hynix and Samsung Electronics key barometers of global AI spending. Bitcoin, meanwhile, has often traded like a high-beta technology asset as investors move money into or out of risk. The latest divergence matters because it suggests the cryptocurrency market may no longer be responding as closely to swings in the AI equity trade.
During Asian trading on July 29, Korean chip shares suffered a record selloff as investors reassessed expectations for AI-related demand, dragging the KOSPI and technology stocks across the region lower. Bitcoin moved in the opposite direction, rising toward $64,000 as other major cryptocurrencies also advanced. Crypto’s resilience during the equity rout points to a possible weakening of the short-term correlation between digital assets and AI-linked stocks.
Bitcoin Breaks Below $63,000 as Asian Chip Rout Hits Wall Street
Bitcoin has increasingly traded as part of the broader risk-asset complex, leaving it exposed when enthusiasm for AI and semiconductor shares reverses. The latest pressure reflects doubts about whether hyperscalers can earn adequate returns on vast infrastructure spending. Combined 2026 capital-expenditure guidance from Alphabet, Microsoft, Amazon and Meta is tracking toward $725 billion to $730 billion, sharpening scrutiny of valuations, financing needs and the sustainability of the AI investment cycle.
On July 28, South Korea’s KOSPI closed 10.8% lower as SK Hynix plunged 14.8%, while Japan’s Kioxia Holdings slid 18.3%. The rout reached Wall Street, where the Nasdaq Composite fell more than 1% and Micron Technology dropped over 10% at the open. Bitcoin then broke below $63,000 for the first time since July 17, marking a 10-day low. CoinGlass data showed more than $510 million of leveraged crypto long positions were liquidated over 24 hours.
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