Crypto Prices Flat as Semiconductor Stocks Stabilize on Profit Surge
Major cryptocurrencies remained relatively unchanged on Thursday, with Bitcoin (BTC) trading around $64,100 and Ether (ETH) near $1,905. The modest price action came despite a sharp rally in semiconductor stocks, led by Samsung's impressive 250-fold profit surge.
The electronics giant reported that chip profits rose significantly due to AI memory shortages, but the market reaction was muted, with shares rising only 2%. SK Hynix also announced a 557% increase in profits, but its stock price fell 17%.
Experts note that high investor expectations are driving the market's current volatility. Despite recent equity market turmoil and corrections in big tech, crypto prices have shown relatively mild declines, with only BNB experiencing a small gain. This suggests thinning liquidity rather than a direct reaction to stock market stress.