CoinEx News: During the July 13–17 week, South Korea’s KOSPI swung violently as leveraged single-stock products magnified losses. The PHLX Semiconductor Index, a benchmark tracking major US-listed chipmakers, closed July 16 down 4.29% and more than 20% below its mid-June high, entering a technical bear market. US spot Bitcoin ETFs still posted three consecutive net-inflow sessions from July 14–16, totaling $367.9 million.

This divergence shows Bitcoin ETF demand holding up during equity deleveraging. It does not prove stock-to-crypto rotation or confirm a BTC reversal. On July 15, PlanB said his scarcity model targets $500,000 within a $250,000–$1 million range, but BTC could first drop below roughly $53,000. A broader US equity breakdown would still expose crypto to risk-off selling.