Key facts
- Bitcoin remained near $64,300, showing little movement despite a strong equity market rally.
- South Korea's Kospi index saw a record 17% surge, driven by semiconductor stocks.
- Samsung and SK Hynix shares jumped over 23%, and Taiwan Semiconductor rose 10%.
- Approximately 594 bitcoin, valued at $38 million, were stolen due to a Coldcard hardware wallet vulnerability.
- Ether, XRP, and Solana saw minor losses over the week, while BNB gained 3%.
Bitcoin and other major cryptocurrencies traded with little change near $64,300, failing to gain momentum despite a significant rebound in global equity markets, particularly in Asia. South Korea's Kospi index experienced a record surge of up to 17%, driven by substantial gains in semiconductor giants like Samsung and SK Hynix, as well as Taiwan Semiconductor. This rally followed a sharp two-week selloff that had impacted the market significantly.
Despite the positive movement in equities, cryptocurrencies remained largely unaffected. Bitcoin saw a brief spike to $65,300 in early Asian trading but quickly retraced its gains. Over the week, Bitcoin had lost 2%, while Ether and Dogecoin saw modest 1% gains, and Solana and XRP each dropped 3%. BNB was an exception, rising 3% on the day.
The broader market sentiment saw US chip stocks achieve their largest rally in over a year. Amazon's stock climbed nearly 10% in after-hours trading due to strong cloud earnings, though Apple's shares fell 6% after its sales forecast was impacted by supply shortages.
A notable security breach involving Coldcard hardware wallets, which allowed hackers to steal approximately 594 bitcoin worth $38 million, also failed to register on the cryptocurrency market's price action. In currency markets, the Japanese yen weakened against the dollar after the Bank of Japan maintained its current interest rate policy, as widely expected.