Global cryptocurrency markets saw major tokens trade mostly flat on Thursday, while the semiconductor sector, which had dominated market trends for the past two weeks, showed its first clear signs of stabilization.
Bitcoin traded at $64,100, Ethereum at around $1,905, and Ripple (XRP) at $1.07, all roughly unchanged from the previous session. Solana stood at $74, BNB at $572, TRON at $0.33, and Hyperliquid (HYPE) fell to $54. Trading volumes were moderate, with Bitcoin and Ethereum posting daily turnover of approximately $28 billion and $10 billion, respectively.
Positive signals emerged from the semiconductor industry fundamentals. South Korean electronics giant Samsung Electronics reported that its chip business profit surged more than 250 times year-on-year, driven by a shortage of artificial intelligence chips. This news triggered sharp volatility in the Korea Composite Stock Price Index (Kospi), which surged as much as 6% intraday before retreating 2% and closing only slightly lower. The index has fallen over 40% from its June peak. Meanwhile, SK Hynix, another South Korean chip giant, saw its shares drop 17% the previous day, despite reporting a 557% profit increase. Market analysts noted that the earnings results themselves were not the issue; rather, investor expectations had already been significantly raised, limiting the price response after the positive news was released.
U.S. tech stock earnings presented a mixed picture. Microsoft rose nearly 9% in after-hours trading as its cloud business growth hit a four-year high, while Meta fell 8% due to weaker-than-expected revenue guidance. Nasdaq 100 futures climbed 1%, after the index entered technical correction territory on Wednesday.
On a weekly basis, the cryptocurrency market showed a relatively weak trend. Over the past seven days, HYPE dropped 8%, the worst performer among major tokens; Ripple fell 6%, Solana lost 5%, Dogecoin declined 4% to $0.07, and Bitcoin slipped 3%. BNB was the only major token to post a weekly gain, albeit a marginal one.
Notably, the recent sharp volatility in equity markets has not significantly transmitted to crypto assets. Bitcoin had moved in tandem with the semiconductor sector for most of July, rising and falling with chip stocks. However, during last Thursday's $797 billion single-day sell-off in U.S. mega-cap tech stocks and this week's record two-day decline in South Korean equities, Bitcoin remained resilient and stabilized again on Thursday. Analysts believe the current weakness in altcoins reflects a contraction in liquidity rather than a direct reaction to stock market fluctuations.