Bitcoin dropped below sixty thousand dollars for the first time since late 2024, dragged down by the same chip and AI stock selloff hitting world markets.

A rotation out of this year's best AI and chip stocks sank Asian markets, with South Korea's Kospi down 6%, and crypto fell with them. Bitcoin is down more than 3% on the week.

A renewed rout in semiconductor stocks pulled risk assets lower again, and crypto kept sliding. Bitcoin is down 5% on the week, with ether and the memecoins falling harder.