Bitcoin Defies Chip Selloff, Crypto Market Remains Resilient

Global semiconductor stocks plummeted on August 19, but Bitcoin remained steady around $64,250 and even gained about 1% for the week.

The broader cryptocurrency market also showed resilience in the face of a selloff in global chip shares. Ether rose by about 1% to around $1,900, Solana gained approximately 2% to about $77, and XRP rebounded by about 1% to near $1.

The major cryptocurrencies TRON and Dogecoin each added around 0.5%, while BNB edged lower and Hyperliquid fell more than 1%. However, HYPE remained the best weekly performer among major cryptocurrencies, up about 7% over the past week.