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Bitcoin Holds Above $64,000 Despite Chip Stock Rout, Leaving Crypto Largely Unshaken

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Suehyeon Lee

Summary

Global semiconductor stocks plunged, but Bitcoin held around $64,250 and stayed up about 1% for the week.
Major cryptocurrencies including Ether, Solana, XRP, TRON, and Dogecoin mostly posted modest gains, showing resilience despite the broader retreat from risk assets.
Markets are focused on the Fed's monetary policy and the roughly 68% chance it will leave its benchmark interest rate unchanged in September.

Forecast Trend Report by Period

Bitcoin and the broader cryptocurrency market remained relatively resilient even as a surge in bond yields triggered a sharp selloff in global semiconductor shares.

Bitcoin traded around $64,250 on Aug. 19, up slightly from a day earlier, CoinDesk reported. The token was also up about 1% for the week.

Global equity markets, meanwhile, came under heavy pressure led by chip stocks. In South Korea, Samsung Electronics and SK Hynix each tumbled more than 7%, sending the Kospi down more than 6%. The MSCI Asia Pacific Index fell 2%, while an Asia semiconductor index dropped more than 3%.

The selling spread across Asian markets after the Philadelphia Semiconductor Index, or SOX, slid 5% in the US a day earlier. A global bond selloff pushed the 30-year Treasury yield to its highest level since 2007, while the 10-year yield climbed near its highest since early 2025. That fueled concern that higher funding costs could weigh on Big Tech companies pressing ahead with large-scale investment in artificial intelligence infrastructure.

Cryptocurrencies, by contrast, showed little sign of stress despite the broader retreat from risk assets. Ether rose about 1% to around $1,900, Solana gained about 2% to about $77, and XRP rebounded about 1% to near $1.

TRON and Dogecoin each added about 0.5%. BNB edged lower, while Hyperliquid fell more than 1%. Even so, HYPE remained the best weekly performer among major cryptocurrencies, up about 7% over the past week.

Investors are now watching the Federal Reserve's next policy signals. The US 10-year Treasury yield eased about 1 basis point to 4.69% on Aug. 19, offering some relief. Gold, after falling about 2% a day earlier, rose as much as 0.6% intraday to above $4,360 an ounce.

The Fed is due to release minutes from its July Federal Open Market Committee meeting at 2 p.m. Eastern time on Aug. 19. In a Reuters survey, 94 of 104 economists forecast that the benchmark interest rate would remain unchanged at 3.50% to 3.75% in September. Market pricing shows about a 68% chance of a pause that month.

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