Why didn't crypto rally with AI stocks overnight?

The cross-asset beta that dragged crypto down last week alongside chip names is now working in reverse. Dip-buyers returned for AI stocks but not for crypto, leaving majors still deep in the red on the week despite the broader tech rebound.

What drove last week's crypto selloff?

The selloff was pinned on stretched chip valuations, which pulled AI stocks and crypto down together and established a beta between the two that has continued into the rebound.

Which AI-related stocks led the overnight rebound?

SK Hynix gained 11% as South Korea's Kospi climbed as much as 8%. The Nasdaq 100 added 1.6% and a semiconductor gauge gained more than 5%, per MSCI data.

What is the current price of Bitcoin and ether?

Bitcoin trades near $63,300, up about 0.8% over 24 hours, and ether near $1,691, up 1.8%, according to CoinDesk data.

〽️NEUTRAL 45d ago

CoinDesk

Bitcoin Holds $63K as AI Stocks Rebound Leaves Crypto Behind

The chip-led bounce that hammered crypto last week is back — but the beta that drove the selloff hasn't flipped positive yet, leaving majors still deep in the red on the week.

Zipp Editorial Aggregated from CoinDesk

Bitcoin Holds $63K as AI Stocks Rebound Leaves Crypto Behind

Bitcoin held near $63,300, up roughly 0.8% over 24 hours, while ether traded around $1,691, up 1.8%, per CoinDesk data. BNB and Solana led the majors at about 2.3%.

The move comes as a rebound in AI-linked stocks overnight failed to translate into crypto. MSCI's Asia Pacific gauge rose 2.5%, South Korea's Kospi climbed as much as 8% with SK Hynix up 11%, and the Nasdaq 100 added 1.6% as a semiconductor index gained more than 5%.

Why it matters

Crypto sold off alongside AI shares last week on concerns over stretched chip valuations, establishing a clear cross-asset beta. That same beta is now working against the rebound: the dip-buyers who hammered crypto returned overnight, but only for the AI names. The decoupling is the story — for now, the market is treating crypto and AI stocks as the same trade, just on different sides of the bounce.

Market impact

Every large token remains deep in the red on the week. Bitcoin is off 10.8%, ether down 16%, Solana and Hyperliquid both off about 17%, and dogecoin down 14.7%. The narrow overnight bounce is doing little to close the gap created by last week's rout.

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Frequently asked questions

Why didn't crypto rally with AI stocks overnight?

The cross-asset beta that dragged crypto down last week alongside chip names is now working in reverse. Dip-buyers returned for AI stocks but not for crypto, leaving majors still deep in the red on the week despite the broader tech rebound.
How much are major tokens down on the week?

Bitcoin is off 10.8%, ether down 16%, Solana and Hyperliquid both off about 17%, and dogecoin down 14.7%, per CoinDesk data cited in the report.
What drove last week's crypto selloff?

The selloff was pinned on stretched chip valuations, which pulled AI stocks and crypto down together and established a beta between the two that has continued into the rebound.
Which AI-related stocks led the overnight rebound?

SK Hynix gained 11% as South Korea's Kospi climbed as much as 8%. The Nasdaq 100 added 1.6% and a semiconductor gauge gained more than 5%, per MSCI data.
What is the current price of Bitcoin and ether?

Bitcoin trades near $63,300, up about 0.8% over 24 hours, and ether near $1,691, up 1.8%, according to CoinDesk data.

Source attribution

Aggregated from CoinDesk · Verified · Last refreshed 45d ago

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