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Crypto

Bitcoin holds around $66,000; VanEck says no clear bottom signal yet

Bitcoin has traded sideways in the $63,000 range over the past month, but asset manager VanEck views the move as an extension of a correction rather than a bottoming signal. In a report, it cited defensive derivatives positioning, weakening mining profitability and outflows from spot ETPs as signs short-term downside pressure remains. Trading activity and realised volatility have cooled. VanEck also flagged corporate selling, while on-chain data show rising long-term holding.

AI & Enterprise

Truth behind chip stock fall from China AI models

Chinese AI startups are stepping up challenges to OpenAI and Anthropic, with models such as DeepSeek V4, Z.ai’s GLM 5.2 and Moonshot AI’s upcoming open-source Kimi K3 drawing attention. The Kimi K3 announcement coincided with sharp falls in U.S.-listed chip and AI infrastructure-related shares, including Nvidia and Micron. The moves have fuelled questions over whether demand for expensive AI hardware will meet expectations as efficient, open-source Chinese models gain share.

AI & Enterprise

U.S. chip stock selloff spreads to Asia, SoftBank slides 8 percent

Japanese technology shares fell sharply as a selloff in U.S. semiconductor stocks spread across Asia, CNBC reported on Thursday. SoftBank dropped 8.8 percent, while Tokyo Electron fell 9 percent and Advantest slid 9.4 percent. Kioxia sank more than 14 percent after a Texas federal jury found infringement of Viasat memory technology patents and ordered $229 million in damages. South Korean markets were shut for a holiday.