Bitcoin fell to ten-day lows, piercing $63,000, as an Asia chip-stock crash hit Wall Street.
South Korea’s KOSPI Index dropped 10.8% today; chip-maker SK Hynix fell 14.8%. This contagion spread to US tech, with Micron Technologies down over 10% at the open, its lowest since May 22.
This isn't just a tech sell-off. It’s a re-evaluation of AI infrastructure spending. Wall Street projects hyperscaler capex could hit $900 billion in 2027, but Alphabet just posted its first cash burn. If the AI narrative weakens, capital flowing into crypto’s tech-adjacent plays will slow.
BTC sits between its EMA20 at 63,806 and EMA50 at 64,079. Reclaim 64,079 to ease immediate pressure.
$BTC
South Korea’s KOSPI Index dropped 10.8% today; chip-maker SK Hynix fell 14.8%. This contagion spread to US tech, with Micron Technologies down over 10% at the open, its lowest since May 22.
This isn't just a tech sell-off. It’s a re-evaluation of AI infrastructure spending. Wall Street projects hyperscaler capex could hit $900 billion in 2027, but Alphabet just posted its first cash burn. If the AI narrative weakens, capital flowing into crypto’s tech-adjacent plays will slow.
BTC sits between its EMA20 at 63,806 and EMA50 at 64,079. Reclaim 64,079 to ease immediate pressure.
$BTC
