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Ether Falls Harder Than Bitcoin After Asia Chip Sell-Off

The sell-off in Asian chip stocks hit Ether and HYPE the hardest, while Bitcoin held up relatively better. Spot Ether ETFs still saw nearly $97 million in inflows earlier this week, mostly from BlackRock.

By Zenz van der Wielen
• 2 min read
Ether Falls Harder Than Bitcoin After Asia Chip Sell-Off

Key Takeaways

  • Ether fell 4% on Friday to $1,850, about twice as much as Bitcoin, which lost 2% to around $63,400.
  • The decline came after a broad sell-off in Asian semiconductor stocks, with sharp losses across the Nikkei 225, MSCI Asia Pacific and other major indexes.
  • Ether is still up 4% over the past seven days thanks to inflows into spot Ether ETFs, while the Fear and Greed Index remained at 25.

Ether took a bigger hit than Bitcoin on Friday after a broad slump in Asian semiconductor stocks spilled over into crypto. ETH dropped 4% to $1,850 (€1,610), while Bitcoin slipped 2% to about $63,400 (€55,300). Hyperliquid token HYPE saw the steepest move, tumbling 10% to $60 (€52) in its sharpest drop since June.

Chips Set the Tone

The weakness did not begin in crypto. It started in semiconductors, where selling pressure hit Asian markets hard. MSCI's Asia Pacific stock index fell 3% and finished at a two-month low, while Japan's Nikkei 225 dropped 5% for its worst session since March. Taiwan Semiconductor was also headed for its biggest one-day decline since April 2025, and Kioxia sank as much as 16% intraday.

That matters for crypto because the recent AI-driven rally has been closely tied to the same risk appetite that often lifts digital assets. The global semiconductor industry is projected to bring in $1.3 trillion (€1.1 trillion) in revenue in 2026, with AI chips expected to account for about 30% of that total. The numbers show how central AI infrastructure has become, but they also show how quickly sentiment can turn when investors start locking in gains across the chip sector.

Altcoins Feel the Pressure

ETH and HYPE were not the only tokens under strain. Solana fell 2% to $75 (€65) and is down 5% on the week. XRP lost 2% to $1.09 (€0.95), BNB eased 2% to $571 (€498), TRON slipped back to 32 cents, and Dogecoin also declined 2%.

Bitcoin held up better than the rest of the major coins. It is down just 1% this week after running into resistance near $65,000 (€56,700) twice. That leaves BTC looking steadier than most altcoins, which usually react more sharply when the market turns risk-off.

Ether Remains the Weekly Winner

Even after Friday's drop, Ether is still the only major coin in positive territory for the week. ETH remains up 4% over the past seven days, supported by nearly $97 million (€84.6 million) in inflows into U.S. spot Ether ETFs during the first three days of this week. BlackRock accounted for almost all of that money.

Still, the price action showed that ETF demand does not fully shield ETH when the macro backdrop and stock market tone weaken. Wintermute described the week in an email as "consolidation under resistance rather than continuation," while Glassnode said it still had not seen an onchain signal pointing to a clear reversal. The Fear and Greed Index stayed at 25, which still signals extreme fear. Recent inflows into new Ethereum wallets also suggest some investors are still using the dip to add to ETH positions.

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