Apple price hikes spark global tech selloff, dragging crypto lower

A broad cryptocurrency decline accelerated on Friday as a global selloff in technology stocks swept through Asian markets, dragging digital assets lower alongside semiconductor and AI-related equities. Ether, XRP, and Dogecoin fell harder than Bitcoin as traders shed riskier altcoins amid deteriorating sentiment across the tech sector.

Apple Price Hikes Trigger Chain Reaction

The selloff was sparked by Apple's ↘ 0.12% decision to raise prices across its Mac and iPad product lines, stoking fears that rising component costs would curb device demand and slow the memory chip rally that has powered much of the AI trade. South Korean chipmakers SK Hynix and Samsung Electronics both tumbled more than 8%, while Japan's Kioxia Holdings sank as much as 12%.bloomberg+1

The MSCI Asia Pacific information technology gauge dropped 6.4%, and futures on the Nasdaq 100 declined 1.5%. South Korean regulators halted trading for the second time in a week as investors rushed out of memory chip stocks, according to The Wall Street Journal. Sentiment was further weighed by a New York Times report that OpenAI may delay its planned initial public offering as it targets a $1 trillion valuation.wsj+1

Crypto Trades in Lockstep With Chips

Bitcoin has increasingly traded as part of a macro risk basket alongside semiconductors throughout 2026, according to MetaMask research, as ETF flows and futures markets transmit equity volatility directly into digital assets. The correlation intensified this week after a 10% crash in global AI stocks on Monday spilled into crypto markets, with Bitcoin sliding toward $62,000 on June 23 while Ether Ethereum fell over 4% to $1,650 and altcoins saw $717 million in liquidations, CoinDesk reported.coindesk+1

Friday's pressure was compounded by a roughly $10.5 billion Bitcoin options expiry on Deribit, with max pain near $72,000 — well above the prevailing market price — adding to selling pressure as contracts settled.metamask+1

Broader Correction Caps Turbulent Quarter

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.7% on Friday, bringing its weekly loss to 3.4% after hitting a record high on Monday, Reuters reported. Japan's Nikkei 225 slumped 3%. The Nasdaq Composite entered Friday having posted four consecutive sessions of losses for the first time since February.reuters+1

The crypto market has already endured a punishing 2026, with Bitcoin down roughly 27% year-to-date and nearly 50% off its all-time high, according to CNBC. Analysts at Morningstar noted that investors have been rotating capital out of crypto and into AI and technology stocks for much of the year — a trade that is now itself under strain.global.morningstar+1