The AI buyers who hammered crypto last week came back overnight, but not for crypto.
MSCI’s Asia-Pacific gauge rose 2.5%, South Korea’s Kospi climbed as much as 8%, SK Hynix rose 11% and the Nasdaq 100 added 1.6% as the semiconductor index gained more than 5%.
Crypto had none of this action. Bitcoin is trading near $63,300, up about 0.8% over 24 hours, and ether is trading near $1,691, up 1.8%, according to CoinDesk data. BNB and Solana lead the majors with around 2.3%.
Every big token is still deep in the red this week, with bitcoin down 10.8%, ether down 16%, Solana and Hyperliquid both down around 17%, and dogecoin down 14.7%.
The crypto sold off alongside AI stocks last week, when the rout was driven by stretched chip valuations, and beta reversed higher.
