Bitcoin's Slide to $62,000 and Broadcom Earnings Disappointment Weigh on AI Chip Stocks

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 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.

Bitcoin has retreated steadily since reaching a high of more than $125,000 in October 2025, while ETF and corporate buying in the crypto market has also weakened. Greg Cipolaro, NYDIG’s global head of research, said AI has become the more favored growth theme and is competing with crypto assets for capital. Technology IPOs, concerns about quantum computing and Strategy’s bitcoin sales have also weighed on demand.

Bitcoin fell below $60,000 on June 5, reaching its lowest level since late 2024. NYDIG said on June 7 that there was no single cause for the decline. The cryptocurrency was quoted at about $59,940 on June 28, down 0.6% over 24 hours and nearly 7% for the week. It could extend its decline into the second quarter, which would mark its first back-to-back quarterly losses since 2022.

Bitcoin is the crypto market’s largest asset and a key gauge of derivatives leverage and risk appetite. When its price falls sharply, automatic position closures on exchanges can intensify selling pressure. Presto Research said Bitcoin pullbacks in 2026 have often coincided with flows into AI stocks and gold, reflecting reduced expectations for U.S. Federal Reserve interest-rate cuts.

During Asian trading on June 4, 2026, Bitcoin briefly fell below $62,000 and breached its 200-week moving average of $61,845. CoinGlass data showed that more than 208,000 traders were liquidated over 24 hours, with long positions losing about $1.5 billion. Worldcoin (WLD) bucked the trend, gaining 33% on the day and nearly 60% over the week, as investors viewed it as a proxy for AI exposure because its co-founder, Sam Altman, leads OpenAI.

Bitcoin is highly sensitive to interest rates and risk appetite. Conflict in the Middle East and the Strait of Hormuz crisis have driven up oil prices and inflation concerns, while rising U.S. Treasury yields have pushed capital toward safe-haven assets such as the dollar. The latest decline has also affected liquidity across the broader cryptocurrency market.

As of July 19, Bitcoin had fallen about 3% over 24 hours, dropping below $67,000 and touching a two-week low. The U.S. 10-year Treasury yield approached 4.5%, near a one-year high, while about $300 million in long positions were liquidated. Core Scientific separately sold $175 million worth of Bitcoin and plans to redirect the proceeds into AI data centers and high-performance computing operations.

Bitcoin has historically shared the Nasdaq technology sector’s appetite for risk, but it has recently weakened even as technology stocks hit record highs. Stalled cryptocurrency legislation in the U.S. Congress has dimmed expectations for policy support. Meanwhile, miners are redirecting power and data-center resources to AI computing, prompting the market to reassess the outlook for the mining industry.

As of July 20, 2026, Bitcoin had fallen below $75,000, sharply decoupling from the rally in U.S. technology stocks. Recent reports said pro-crypto legislation remained stuck in Congress. Miners are also reallocating capital and computing capacity amid the AI boom, cooling investors’ risk appetite and sustaining selling pressure across the crypto market.

Bitcoin has recently decoupled from U.S. equities, fueling concerns that each rebound is peaking at a lower level. As Bitcoin fell below $67,000, major tokens including Ether and Solana also came under selling pressure. By contrast, Nvidia’s earnings strengthened the outlook for artificial-intelligence investment, prompting funds to rotate into AI-linked tokens such as Internet Computer and Bittensor.

In the latest trading, Bitcoin lost the $67,000 level while Ether and Solana also declined. Decred surged against the broader trend after changes to its treasury-spending rules. Following Nvidia’s better-than-expected quarterly results and strong outlook, Internet Computer, Bittensor and shares of Bitcoin miners with AI data-center exposure advanced, highlighting the rotation in capital.

Bitcoin and risk assets such as U.S. stocks are highly sensitive to the outlook for U.S. interest rates. A hotter-than-expected Producer Price Index from the U.S. Labor Department pushed back market expectations for Federal Reserve rate cuts. Persistent bond-market concerns over inflation and broader economic risks drove capital toward safe-haven assets such as gold, putting cryptocurrencies under selling pressure.

Bitcoin initially fell to about $65,000 in a weekend sell-off, while Solana, XRP and Dogecoin each dropped about 6%. Although Bitcoin and U.S. stocks briefly stabilized afterward, the cryptocurrency failed to hold above $66,000. Market analysis remained cautious on March 27, with Bitcoin holders' unrealized losses estimated at $600 billion. Only some AI-related tokens continued to attract buying interest.

Bitcoin and U.S. technology stocks have become increasingly correlated in recent years, with both driven by risk appetite, interest-rate expectations and capital flows. Wall Street's concerns over AI software valuations and growth prospects also triggered selling in crypto assets and mining companies. The $64,000 level is therefore not only a price threshold but also a key gauge of whether capital is returning to high-risk assets.

Bitcoin rebounded from its lows on Tuesday, though the reports did not specify the date, retaking $64,000 and lifting cryptocurrency mining stocks. The latest gains coincided with a narrowing of losses in AI-related software shares, suggesting market anxiety had temporarily eased. The reports did not identify individual miners or financial institutions or provide stock-specific gains; the confirmed key figure is Bitcoin's $64,000 price level.

Bitcoin has long been viewed by some investors as inflation-resistant “digital gold,” but its recent performance has more closely resembled that of a volatile risk asset. Its price has moved closely in line with software-stock benchmarks such as the iShares Expanded Tech-Software Sector ETF (IGV), suggesting that selling pressure in U.S. technology shares and private equity markets is spilling into cryptocurrencies.

During U.S. trading on Monday, July 13, Bitcoin briefly rebounded above $65,000, but the rally failed to hold. It retreated to about $65,400 as the broader stock market and software shares declined. Polymarket showed the probability of Bitcoin falling below $55,000 had risen to 72%, reflecting weakening confidence among holders and increased downside risk.