Bitcoin slid to $62,715 during Asian trading hours on Friday, marking a 1.9% daily decline and a 14.5% weekly loss as the artificial intelligence trade that fueled global risk assets through 2026 lost momentum. Ether experienced a sharper correction, dropping 4.8% to $1,696 and extending its weekly loss beyond 15%, while Solana fell 5.4% to $66.51, accumulating an 18.5% decline over seven days. This synchronized selloff originated outside the crypto sector, triggered when Broadcom's quarterly AI-chip outlook missed elevated expectations on Wednesday, halting a months-long advance in semiconductor stocks from their war-driven lows. Nasdaq 100 futures slipped 0.9% on Friday, extending the index to a third consecutive day of declines. South Korea's KOSPI, the best-performing major equity index this year and a primary indicator of the AI buildout, tumbled 4.7%, with chipmaker SK Hynix falling 8%. MSCI's Asia-Pacific equities gauge fell 1.4%, reflecting a coordinated risk-off shift that has been quietly building throughout the week.

Currency markets exhibited their own stress signals concurrent with the equity downturn. The Korean won extended its slide to a 2009 low, while the Indonesian rupiah traded near its record low against the dollar as foreign investors withdrew billions from local bond markets. The Indian rupee bucked this trend after the Reserve Bank of India announced fresh measures to attract capital inflows. Data compiled by Woofun AI indicates that the picture across Asia represents a unified risk-off shift where crypto sat squarely within the broader asset class correction. Hyperliquid's HYPE, which had been the only top-10 token holding green on a weekly basis, dropped 14.8% to $62.14, erasing nearly all of its recent outperformance and leaving only a thin 1.5% gain on the week. The narrative that high-cash-flow tokens were rotating into a bid while the rest of crypto bled lasted less than a single trading session.

Zcash, the other lone green dot from yesterday's leaderboard, has now given back its weekly outperformance and then some, signaling a complete rotation away from defensive crypto assets. The structural backdrop supporting the market has not softened despite these short-term fluctuations. U.S. spot bitcoin ETFs have now logged 13 straight sessions of net outflows totaling roughly $4.4 billion since mid-May. Strategy filed its first disclosed bitcoin sale since 2022 earlier this week, offloading 32 BTC to fund preferred stock dividend obligations. Combined, those two flows have removed a structural bid that supported bitcoin through most of the past 18 months, leaving the asset class vulnerable to external macroeconomic shocks. Woofun AI notes that the removal of this structural support fundamentally alters the supply-demand dynamics for Bitcoin in the current quarter.

The next critical test for the market is Friday's U.S. nonfarm payrolls report, which will dictate the immediate trajectory for both equities and digital assets. A soft print would revive expectations for Federal Reserve cuts under newly confirmed chair Kevin Warsh, push real yields lower, and likely send the AI trade back up, taking crypto with it. Conversely, a hot print does the opposite, reinforcing the current risk-off sentiment and potentially driving prices lower. Until the data lands, the path of least resistance for both stocks and crypto remains the downward trend they are already following. Woofun AI analysis suggests that without a significant macroeconomic pivot, the correlation between AI semiconductor performance and crypto valuations will remain the primary driver of price action in the coming sessions.