Key facts
- Major cryptocurrencies including Ether and XRP were flat on Thursday.
- Bitcoin was trading around $64,100 and Ether near $1,905.
- Samsung Electronics reported a more than 250-fold increase in chip profit.
- SK Hynix reported a 557% profit increase but saw its shares fall 17%.
- Microsoft shares rose in extended trading following strong cloud growth, while Meta shares declined on a weak revenue forecast.
- The Nasdaq 100 futures increased by 1% after the index entered a technical correction.
Major cryptocurrencies remained largely unchanged on Thursday, with Bitcoin trading around $64,100 and Ether near $1,905. This stability occurred amidst modest trading volumes and a mixed performance in semiconductor stocks, which have recently driven market movements.
Electronics giant Samsung reported a more than 250-fold increase in chip profit due to AI memory shortages. However, the market reaction was muted, with Samsung's shares rising only 2%. SK Hynix, which reported a 557% profit increase, saw its shares fall 17%, highlighting high investor expectations.
In the U.S., Microsoft shares gained nearly 9% in extended trading on the back of its fastest cloud growth in four years. Conversely, Meta's shares fell 8% following a weak revenue forecast. Nasdaq 100 futures rose 1% after the index entered a technical correction on Wednesday.
Across the crypto market for the week, Hyperliquid's HYPE token was down 8%, XRP lost 6%, and Solana declined 5%. Dogecoin also saw a 4% drop, settling at $0.07. Bitcoin experienced a 3% weekly decline. BNB was the only major cryptocurrency to hold a weekly gain, albeit marginally.
The relative calm in crypto contrasts with recent equity market turmoil. Bitcoin had tracked semiconductor stocks closely through July, but has recently shown resilience. Analysts suggest this softness across altcoins indicates thinning liquidity rather than a direct reaction to broader stock market stress.