Crypto Lags as Semiconductor Rally Accelerates Following Samsung’s Record Profit Surge

Crypto’s largest assets traded with little movement on Thursday as the semiconductor-driven market selloff began to lose momentum. Despite the calmer session, most major cryptocurrencies remain lower for the week, with Hyperliquid’s HYPE posting the biggest decline among leading tokens at 8%.

Bitcoin was trading around $64,100, while ether remained close to $1,905, leaving both nearly unchanged over the past day. XRP held near $1.07, solana traded around $74, BNB hovered at approximately $572, and TRON stayed near $0.33. HYPE slipped toward $54. Trading volumes remained moderate, with bitcoin seeing about $28 billion in activity and ether around $10 billion.

The easing pressure on chip stocks followed Samsung’s announcement that semiconductor profits jumped more than 250 times as demand for AI memory products continued to rise. South Korea’s Kospi moved sharply during the session, gaining as much as 6% before retreating and finishing near flat levels after a decline of more than 40% from its June record.

Samsung’s market response underscored how elevated expectations have become across the AI chip sector. Despite reporting a massive profit surge, the company’s shares advanced only about 2%. SK Hynix experienced a similar disconnect, with profits climbing 557% on Wednesday while its stock plunged 17%. Investors are no longer focused solely on strong results but on whether companies can exceed already aggressive forecasts.

U.S. earnings reports also painted a mixed picture. Microsoft shares jumped nearly 9% in extended trading after its cloud division delivered its fastest growth in four years, while Meta declined 8% following a weaker revenue outlook. Nasdaq 100 futures gained 1% after the index moved into correction territory on Wednesday.

The broader crypto market remains weaker despite Thursday’s quiet session. HYPE has fallen 8% over the past week, making it the worst performer among major cryptocurrencies. XRP has dropped 6%, solana is down 5%, dogecoin has declined 4% to $0.07, and bitcoin has slipped 3%. BNB is the only major token still showing a weekly increase, although the gain is minimal.

One notable trend is crypto’s limited reaction to recent equity market turbulence. Bitcoin closely tracked semiconductor and AI-related stocks throughout much of July, moving alongside broader technology sentiment.

However, the leading cryptocurrency has remained stable through significant market shocks, including last week’s $797 billion decline in U.S. mega-cap technology shares and South Korea’s sharp two-day selloff. The weakness among alternative tokens appears to be driven more by reduced liquidity than by direct concerns from stock markets.