South Korea’s Kospi slid 7.9% on Thursday after Samsung and SK Hynix shed a combined $290 billion in market value, the second time this month the index has blown up on AI chip worries.
Bitcoin clawed back above $61,100, up about 4% on the day, per CoinDesk data.
Meta flagged plans to sell computing power to outside customers, which raised the obvious question about whether the AI infrastructure buildout has overshot demand. Same doubt that hit the sector two weeks ago, different headline.
Bitcoin’s read on the day was different. Warsh told the ECB forum in Sintra that inflation risks have come down, the first notably softer comment from him since the hawkish June dot plot triggered weeks of ETF outflows. Dollar slid and treasuries wavered.
Friday’s U.S. jobs report is the next swing factor. Strong print hands the Fed cover to stay restrictive, while a soft print revives rate-cut pricing. Either way it sets the tone for July – a month that traders will watch after bitcoin’s rare first half year-to-date loss that puts it firmly in midst of a bear market.
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