US Stocks Fail to Follow Asia's Rebound as Bitcoin Hits Two-Week Low

Bitcoin's price plummeted to two-week lows on Friday as US stocks failed to follow Asia's lead in rebounding from a semiconductor sell-off.

Data from TradingView showed $BTC/USD falling 3.5% to reach $62,369 on Bitstamp, a level last seen on July 14.

US stocks turned red at the open but eventually stabilized, diverging from the significant relief bounce in Asia, where South Korea's KOSPI index ended the day up 17.9%, its largest single-day gain on record.

According to QCP Capital, semiconductor shares led both the sell-off and recovery, reflecting the high exposure of the index to the global AI and memory-chip cycle.