Bitcoin Drops to Two-Week Low as US Stocks Fail to Follow Asia’s Rebound

Bitcoin fell to its lowest level in more than two weeks on Friday, pressured by weak US stock trading even as Asian markets staged a sharp recovery from the recent semiconductor selloff.

Bitcoin Slides Toward $62,000

$BTC dropped 3.7% to reach $62,359, a level not seen since July 14. The decline came as US stocks opened lower and traded flat through the session, standing in sharp contrast to Asia, where

Semiconductor Rebound Drives Asian Markets

According to QCP Capital, semiconductor shares led both the earlier selloff and the subsequent recovery, reflecting the index’s heavy exposure to the global AI and memory-chip cycle. The firm also noted rising crypto trading activity tied to the KOSPI swings, pointing to a growing link between crypto liquidity, regional equity positioning, and broader tech sentiment. Japan and South Korea both reportedly intervened in currency markets Thursday, while the Bank of Japan held interest rates steady at 1.0%, following the Federal Reserve’s decision to hold rates the day before.

Traders Watch for Repeat of 2022 Bear Market Pattern

Despite Friday’s drop, bitcoin remains up 8.5% for July, its strongest monthly performance since 2022.

$174.52M in crypto liquidated in the last 4 hours.And $153.46M longs, just $21M shorts, one-sided flush as leveraged bulls get rekt on the dip.