Crypto markets barely registered one of the sharpest equity rallies of the year on Friday, with bitcoin holding near $64,300 while South Korean stocks staged a record rebound.
The Kospi index jumped 17% on July 31, driven by a 23% surge in Samsung and SK Hynix shares. Taiwan Semiconductor rose 10%. Bitcoin, by contrast, remained flat near $64,300 throughout the session, though it spiked to $65,300 in early Asian hours. Ether traded at $1,907, while Solana held at $74 and XRP at $1.08. BNB gained 3% to $590.
Trading volumes reflected institutional participation. Bitcoin recorded $27 billion in daily volume, with ether at $7 billion. Institutional crypto trading reached a record 72% of total activity.
Kospi Recovery Follows Steep Decline
The South Korean rebound came after a midweek rout that had taken the Kospi more than 40% below its June peak. Thursday had seen a $797 billion drop in U.S. megacap technology stocks, with Apple declining 6% and Amazon rising 10% in after-hours trading. Bitcoin tracked semiconductor movements closely through July, rising and falling with the chip trade.
Treasuries rose alongside the dollar. Oil extended its decline. The yen weakened after Thursday’s largest gain against the dollar in more than two years, which followed Japanese authorities’ intervention. The Bank of Japan left rates unchanged, as economists expected.
Coldcard Security Flaw Drains $38 Million
A security vulnerability in Coldcard hardware wallet key generation allowed hackers to drain approximately 594 bitcoin, valued at $38 million, from around 500 wallets on Thursday. The breach did not move bitcoin’s price.
Weekly performance showed bitcoin down 2%, ether and dogecoin each up 1%, and Solana and XRP each down 3%. Hyperliquid HYPE declined 5% over seven sessions.
