Bitcoin fell toward $62,000 on Wednesday as a renewed sell-off in semiconductor stocks spread to risk assets globally. The token traded around $62,546, down 2.1% in 24 hours and 4.9% on the week. Ether dropped 3.7% to $1,661, XRP fell 2.2%, Solana lost 3.3%, and Dogecoin slid 9.8% over seven days. Hyperliquid's HYPE was the worst hit, down 8.8% on the day. Tron held up best, rising 3.7% on the week. The pressure stemmed from a 7.9% drop in the Philadelphia Semiconductor Index, dragging the S&P 500 down 1.4% and Nasdaq 100 down 3.3%. Oil also fell as tanker traffic resumed through the Strait of Hormuz after the US-Iran peace deal, while the dollar climbed to a seven-month high. On the crypto-specific front, U.S. spot bitcoin ETFs have seen a record 30-day net outflow of over $6 billion, indicating sustained institutional de-risking. Analysts note that bitcoin is holding a fragile floor around $60,000 ahead of a $10.6 billion options expiry on Friday, with 80% of positions out-of-the-money. Until ETF flows reverse, relief rallies are expected to face a hard ceiling.

Key facts

• Bitcoin fell to ~$62,546, down 2.1% daily and 4.9% weekly.
• Semiconductor rout deepens: Philadelphia Semiconductor Index down 7.9%.
• US spot bitcoin ETFs record $6B+ net outflow over 30 days.
• Friday's $10.6B options expiry: 80% of positions out-of-the-money.
• Bitcoin holds $60K floor amid limited catalysts for rebound.

KeyAudit data perspective