Bitcoin braces for August slump as AI stocks falter

Bitcoin price fell below $63,000 on Friday as a short-lived rebound in Asian semiconductor stocks faded, adding pressure as the cryptocurrency entered its historically weak August trading period. Summary Bitcoin price dropped 3% in 24 hours, extending its weekly loss to about 2%. Samsung and SK Hynix surrendered momentum after surging roughly 25% on Thursday. Bitcoin’s median August return stands near negative 8%, placing $58,000 in focus. The Crypto Fear & Greed Index fell to 25, signaling “Extreme Fear.” Bitcoin price falls below $63K as risk assets weaken Bitcoin traded below $63,000 after losing approximately 3% over the previous 24 hours. The decline followed renewed weakness in Asian technology shares, particularly companies tied to the artificial intelligence and semiconductor sectors. Ethereum fell 2.8% to around $1,860, while Solana declined 2% to approximately $73. XRP traded near $1.06 as selling spread across large-cap cryptocurrencies. The pullback came one day after Samsung Electronics and SK Hynix rallied roughly 25%, helping South Korea’s KOSPI recover from a steep multiweek decline. That rebound initially suggested investors were returning to semiconductor stoc...