Cryptocurrencies remain stagnant despite a record rebound in South Korean equities and semiconductor stocks.
Bitcoin traded flat near $64,300, showing minimal reaction to a 17% surge in South Korea’s Kospi index driven by gains in Samsung, SK Hynix, and Taiwan Semiconductor. Major cryptocurrencies, including ether at $1,907 and XRP at $1.08, saw little movement despite the equity rally.
The Kospi’s rebound followed a two-week selloff, while crypto markets remained subdued. Bitcoin briefly spiked to $65,300 in early Asian trading before retreating. Weekly performance for most majors remains negative, with bitcoin down 2% and solana off 3%.
A separate incident involving a security flaw in Coldcard hardware wallets led to the theft of 594 bitcoin, worth $38 million, but had no visible impact on prices. Trading volumes reached $27 billion for bitcoin and $7 billion for ether, with BNB as the sole major gainer, up 3% to $590.