BTC reclaims $61K-$62.7K as AI-chip trade cracks, traders eye rotation into crypto

Bitcoin has climbed back above $61,000 just as the AI-driven memory and semiconductor stocks that dominated markets for most of 2026 begin to show cracks, according to CoinDesk. The shift has traders asking whether capital is starting to rotate out of chip stocks and back into digital assets.

Bitcoin dipped below $58,000 on July 1, its lowest level in almost two years, before rebounding to trade above $61,000, CoinDesk reported. At the time of the report, BTC was changing hands around $62,706.96.

Chip stocks cool after a blockbuster first half

Memory and semiconductor equities have been the standout winners of 2026, fueled by demand tied to AI infrastructure buildout. Sandisk (SNDK) shares are up more than 530{d19616a33d455f7215be86882b84de16bc0d6d703bafb84e8d0ba56683c22428} this year, while Micron Technology (MU), a major producer of DRAM and high-bandwidth memory chips used in AI systems, has gained more than 230{d19616a33d455f7215be86882b84de16bc0d6d703bafb84e8d0ba56683c22428}, per CoinDesk.

Exchange-traded funds tracking the sector posted similarly outsized gains in the first half of the year. The Roundhill Memory ETF (DRAM) more than doubled, and the VanEck Semiconductor ETF (SMH) climbed 60{d19616a33d455f7215be86882b84de16bc0d6d703bafb84e8d0ba56683c22428}, according to the report. Over the same stretch, BlackRock’s iShares Bitcoin Trust (IBIT), the largest bitcoin ETF, fell 30{d19616a33d455f7215be86882b84de16bc0d6d703bafb84e8d0ba56683c22428} in line with bitcoin’s own decline.

That dynamic has recently started to reverse. The Roundhill Memory ETF has fallen roughly 25{d19616a33d455f7215be86882b84de16bc0d6d703bafb84e8d0ba56683c22428} from its June 22 record high, and the VanEck Semiconductor ETF is down around 12{d19616a33d455f7215be86882b84de16bc0d6d703bafb84e8d0ba56683c22428} from its peak, CoinDesk noted.

Meta’s GPU capacity plans rattle AI trade

The selloff in AI-linked stocks accelerated after Bloomberg reported that Meta Platforms (META) is setting up a new unit called Meta Compute, which will sell excess GPU computing capacity to third parties, according to CoinDesk. The news unsettled “neocloud” providers that lease GPU infrastructure to AI developers.

That group includes several former bitcoin miners that pivoted their computing operations toward high-performance computing and GPU hosting services. IREN (IREN), Cipher Digital (CIFR) and TerraWulf (WULF) have each fallen at least 20{d19616a33d455f7215be86882b84de16bc0d6d703bafb84e8d0ba56683c22428} from their all-time highs, CoinDesk reported.

Too early to call it a rotation

CoinDesk cautioned that it remains too early to describe the moves as a sustained rotation of capital. Still, after months of investors favoring AI infrastructure plays over crypto, the simultaneous pullback in semiconductor leaders and bitcoin’s rebound could mark an early sign that risk appetite is beginning to rebalance toward digital assets.

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