South Korea’s Kospi index tumbled 4.4% as enthusiasm around artificial intelligence stocks weakened, while approximately $101 billion worth of SpaceX shares are expected to become tradable on Thursday as the company’s first lockup period ends.

Bitcoin continued to hold above the $64,600 mark, gaining slightly during the session and remaining up about 0.5% over the past week. Other major cryptocurrencies traded with limited momentum and lacked a clear trend.

Market participants are closely monitoring Elon Musk’s SpaceX, where the expiration of an initial share restriction will release around $101 billion in stock for trading. SpaceX also maintains a bitcoin reserve of 18,712 BTC, worth roughly $1.1 billion based on valuations at the end of June.

Ether rose more than 1% to approximately $1,904 but remains down 0.7% over the past seven days. XRP recorded the steepest decline among major tokens, falling nearly 3% to $1.04 and extending its weekly losses to 3%. BNB declined by more than 1% to $595, though it continues to rank as the strongest performer among major cryptocurrencies this week with a 3.5% gain.

Solana slipped around 1% to near $74, while Dogecoin fell by a similar percentage to roughly $0.07. Tron remained unchanged at $0.33. Hyperliquid’s HYPE was little changed around $56 but has gained more than 4% over the past week, making it the strongest weekly performer among major digital assets.

According to FxPro analyst Alex Kuptsikevich, bitcoin has regained strength since Monday after buyers stepped in around the $62,500 level and pushed prices above the 50-day moving average. He said market optimism is currently focused primarily on bitcoin rather than the broader crypto sector, a pattern typically associated with the early stages of a longer-term market shift.

Global equity markets faced renewed pressure as semiconductor stocks declined across regions. The MSCI All Country World Index ended a five-day advance, falling 0.2% as chipmakers retreated in Asian and Pacific markets. South Korea’s Kospi, widely viewed as a measure of AI investment sentiment, dropped sharply, with SK Hynix and Samsung leading the decline.

Meanwhile, S&P 500 and European stock futures moved slightly higher.

Gold prices increased 0.4% to reach their strongest level since June as traders reduced expectations for future rate hikes. Brent crude stayed below $80 per barrel after Iran announced an agreement with Oman related to a shipping route through the Strait of Hormuz.

Attention is also turning to SoftBank’s earnings report due later Thursday. The company has invested $34.6 billion in OpenAI through Vision Fund 2 since September 2024 and holds a stake in chip designer Arm, making its results a key signal for the health of private-sector AI investment.