CoinDesk
Bitcoin held near $64,250, up 1% on the week, while Solana rose 2% to nearly $77 and Ether gained 1% to just over $1,900. Samsung Electronics and SK Hynix each fell more than 7%, pushing Korea's Kospi down over 6%.
Crypto was largely untouched by the semiconductor selloff, which followed a 5% drop in the Philadelphia Semiconductor Index. The 30-year U.S. yield reached its highest level since 2007, while the 10-year yield eased about one basis point to 4.69%, raising AI financing costs.
Investors awaited the Federal Reserve's July minutes at 2 p.m. ET. A Reuters survey found 94 of 104 economists expected rates to stay at 3.50% to 3.75% in September; markets priced about a 68% chance of no change.
Frequently asked questions
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How did Solana, Bitcoin and Ether perform?
Solana rose 2% to nearly $77, Bitcoin held near $64,250 and Ether gained 1% to just over $1,900.
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How steep was the Korean semiconductor selloff?
Samsung Electronics and SK Hynix each fell more than 7%, pushing Korea's Kospi down over 6%.
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Why do higher bond yields matter for AI companies?
Higher long-term U.S. yields raise borrowing costs for companies investing heavily in AI infrastructure. The 30-year yield reached its highest level since 2007.
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What did the Fed survey show about September rates?
A Reuters survey found 94 of 104 economists expected rates to stay at 3.50% to 3.75% in September; markets priced about a 68% chance of no change.
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How did crypto react to the semiconductor decline?
The Philadelphia Semiconductor Index fell 5%, while crypto was largely untouched and most major cryptocurrencies posted modest gains.
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