Bitcoin (BTC) declined less than semiconductor shares in two recent market downturns, with the PHLX Semiconductor Sector Index (SOX) dropping about 29% in a June-July slide.
In an October pullback that started Oct. 2, BTC was down about 3%, compared with a roughly 14% fall in SOX and a 4% decline in the Nasdaq 100. In the same comparison, South Korea’s KOSPI lost about 21%, SK Hynix fell about 31% and Micron dropped around 16%.
Bitcoin was little changed from June 22 to July 29, even as the chip index fell nearly a third. The Nasdaq 100 lost about 10% over that span. Micron slid about 39%, the KOSPI declined roughly 38% and SK Hynix shed about 52%.
The figures compare two selected periods and focus on a semiconductor benchmark. A separate Bitwise Asset Management review of four U.S. stock selloffs found Bitcoin fell more than the S&P 500 Total Return Index in each episode it analyzed from 2018 to 2025.
