A liquidation flush took bitcoin to its lowest since early June before Micron's blowout earnings and SK Hynix's U.S. listing plans steadied the AI trade that crypto had been sliding alongside.

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.

Bitcoin lost 2.5% to $62,300 and ether fell over 4% to $1,650, while $717 million in liquidations amplified losses across altcoins.