While Bitcoin maintained its horizontal course above $64,000 as sharp fluctuations in global semiconductor stocks eased, spot Bitcoin ETFs in the US recorded net money inflows again after a four-day outflow series.
Spot Bitcoin ETFs in the US recorded a total net inflow of $32.1 million on July 29, ending a four-day outflow streak, according to data from FarsideUK and Trader T. While $89.8 million entered BlackRock’s IBIT fund, $43.1 million came out of Fidelity’s FBTC fund, and $14.6 million came out of ARK 21Shares’ ARKB fund. Capital movements in other funds remained largely flat.
As of July 30 (this morning), Bitcoin was traded around $64,100, showing no significant change compared to the previous day, despite the FED keeping the interest rate constant. Ethereum also remained flat at around $1,905. Limited price movements were also observed in major altcoins. While XRP is trading at $1.07, Solana at $74, BNB at $572 and Tron at $0.33. hyperliquid It dropped to $54.
The calm outlook in the cryptocurrency market was influenced by the easing of sales in semiconductor stocks that have been pressuring global financial markets in recent days. Samsung Electronics announced that the profits of its semiconductor division increased more than 250 times, supported by the supply shortage in memory products used in artificial intelligence.
South Korea’s Kospi Index stabilized after fluctuating between a 6 percent increase and a 2 percent decrease during the day. However, strong balance sheets were not reflected in share prices to the same extent. Samsung Electronics shares rose only 2 percent after the results, while SK Hynix shares, whose quarterly profit increased by 557 percent, lost 17 percent the day before. It was observed that high expectations for the artificial intelligence sector put pressure on the stocks.
The balance sheets of technology companies in the USA revealed a mixed picture. Microsoft rose nearly 9 percent in after-hours trading after announcing the fastest cloud growth in four years. Meta shares fell 8 percent due to weak earnings expectations. Futures contracts of the Nasdaq 100 Index, which entered the technical correction zone a day ago, rose 1 percent.
The impact of the latest correction in technology stocks on the cryptocurrency market was limited. Although Bitcoin moved in a similar direction as semiconductor stocks for most of July, it remained relatively stable last week as $797 billion was wiped off the market value of major US technology companies. The fact that losses in Bitcoin remained limited during the record sales in South Korean stocks this week indicated that its relationship with technology stocks may be weakening.
