Daily Market Update: Crypto Didn’t Flinch as Chip Stocks Slide and Bond Yields Surged

TLDR

• Bitcoin held near $64,250 while most major cryptocurrencies posted modest gains on Wednesday
• Solana rose 2% to nearly $77, leading major crypto on the day, with ether up 1% to just over $1,900
• Samsung Electronics and SK Hynix both fell more than 7%, dragging Korea’s Kospi down over 6%
• The Nasdaq dropped 1.3% on Tuesday as chip stocks sold off in what analysts called a positioning event
• Fed minutes are due at 2 p.m. ET, with 94 of 104 economists expecting rates to hold in September

Bitcoin stayed close to $64,250 on Wednesday, up slightly on the day and about 1% on the week. Crypto markets held steady even as global chip stocks took a sharp hit.

Solana was the best performer among major cryptocurrencies, rising 2% to nearly $77. Ether gained 1% to just over $1,900 and leads all majors over the past week at 1.5%.

XRP climbed almost 1% to just under $1, though it remains down 2% over seven days. Tron and dogecoin each added half a percent, sitting at 33 cents and 7 cents respectively.

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