Asian equities also fell sharply Friday morning, with South Korea's Kospi losing over 8% and triggering a circuit breaker.

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 falls with Asia stocks as a major tech sell-off sends BTC price action toward new macro lows and traders brace for $60,000 support to fail.