Bitcoin price sinks to 2-week lows as US stocks fail to copy Asia rebound

Bitcoin (BTC) fell to its lowest levels in over two weeks on Friday as US stocks saw pressure into the monthly close.Key points:Bitcoin approaches $62,000 as daily losses hit 3.5%.US stocks saw no positive reactions to relief in Asia, where stocks rebounded after the semiconductor sell-off.Analysis warns that Bitcoin bear-market history should continue to repeat in August.Bitcoin price targets $62,000 in month-end volatilityData from TradingView showed BTC/USD falling 3.5% to reach $62,369 on Bitstamp, a level last seen on July 14.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewUS stocks turned red at the open before treading water, diverging from a major relief bounce seen in Asia. There, South Korea’s KOSPI index ended the day up 17.9%, its largest single-day gain on record.KOSPI index one-day chart. Source: Cointelegraph/TradingView“Semiconductor shares led both the sell-off and the subsequent recovery, reflecting the index’s high exposure to the global AI and memory-chip cycle,” trading company QCP Capital wrote in commentary on the latest macro market moves.QCP noted that crypto market trading activity increased around the KOSPI gyrations, something it said “highlight...