Bitcoin Plummets to 10-Day Lows as Chip Makers Drag Down US Markets

The Bitcoin price plummeted to ten-day lows at Tuesday's Wall Street open, hitting $63K for the first time since July 17. The BTC price action mirrored a US stocks sell-off, with key sectors like semiconductors and AI experiencing significant losses.

South Korea's KOSPI Index closed down 10.8% in a single session, led by chip-maker SK Hynix's 14.8% decline, while Japan's memory manufacturer Kioxia Holdings fell 18.3%. In the US, the tech-heavy Nasdaq Composite Index was down just over 1% at the time of writing.

The sell-off in semiconductor stocks has raised concerns about the sustainability of hyperscaler capital expenditure trajectories. Investors are questioning whether the underlying economics of AI infrastructure buildouts can justify their scale. The combined 2026 capex guidance from Alphabet, Microsoft, Amazon, and Meta is now tracking toward roughly $725-730 billion, with Wall Street projecting a possible increase to $900 billion in 2027.