Cryptocurrencies remain subdued despite a broader tech rally driven by AI and semiconductor stocks overnight.
Bitcoin traded near $63,300, up 0.8% over 24 hours, while ether rose 1.8% to $1,691, as major cryptocurrencies lagged a tech sector rebound. BNB and Solana led gains among large-cap tokens, climbing roughly 2.3%.
The Nasdaq 100 advanced 1.6%, with semiconductor stocks surging over 5%, while MSCI’s Asia Pacific gauge rose 2.5% and South Korea’s Kospi jumped as much as 8%. Crypto assets, however, missed the rally, remaining deep in weekly losses—bitcoin down 10.8% and ether 16%.
Last week’s selloff in both AI stocks and crypto was linked to stretched chip valuations, but the correlation reversed as tech shares rebounded overnight.