Bitcoin flat near $64,000 as Kospi's record 17% surge leaves crypto untouched

On July 31, 2026, Bitcoin remained largely unchanged near $64,300 despite a significant rebound in global equities, particularly South Korea’s Kospi index, which surged by as much as 17%. This marked a record recovery for the Kospi following a sharp two-week selloff that pushed the index more than 40% below its June peak. The rally was driven mainly by strong gains in semiconductor stocks such as Samsung, SK Hynix, and Taiwan Semiconductor, with increases exceeding 10% and up to 23% in some cases.

Cryptocurrency markets appeared mostly unaffected by this robust equity market resurgence. Bitcoin and other major cryptocurrencies including Ether, XRP, Solana, and Dogecoin showed minimal price changes, with Ether trading at $1,907 and Bitcoin briefly touching $65,300 before falling back. BNB was a notable exception, gaining 3% in a day to $590, representing the only major coin with a meaningful weekly gain. Overall, Bitcoin has declined 2% over the past week. The report highlights that Bitcoin has historically tracked semiconductor stocks closely but has remained steady amid recent volatility in chip stocks.

In addition to market movements, a significant security breach occurred involving Coldcard hardware wallets. Hackers exploited a security flaw in the wallets’ key generation process to steal approximately 594 Bitcoin, equivalent to about $38 million, from around 500 wallets. Despite the large-scale theft, this event did not impact Bitcoin’s market price or general trading activity, indicating limited immediate market reaction.

Other financial market developments mentioned include the Japanese yen weakening after a notable government intervention and the Bank of Japan’s decision to keep interest rates steady, as well as rising U.S. Treasury prices and falling oil prices. Overall, the cryptocurrency market’s resilience in the face of an aggressive equity rally and a marked security breach underscores a divergence between crypto and traditional equities, as emphasized by the source.