Bitcoin rebounds as semiconductor trade loses steam
Have we seen the first signs of capital rotating back into bitcoin from memory and semiconductor stocks?
The VanEck Semiconductor ETF (SMH) and Roundhill Memory ETF (DRAM), which have led the surge in semiconductor and memory stocks throughout 2026, have largely left Bitcoin and the broader crypto market sidelined.
That may now be starting to change. The Roundhill Memory ETF has fallen roughly 25% from its June 22 all time high, while SMH is down around 12%. While, Bitcoin briefly dropped below $58,000 on July 1 before rebounding above $61,000 by July 3.