China's AI bubble bursts: STAR50 sheds $480 billion, bitcoin barely blinks
- —STAR50 down ~40% from July peak, wiping out about $480 billion
- —CSI 300 in bear market: -20% from June high, 14-month low
- —AI stocks were 42% of China's market cap and 57% of turnover at peak
- —Bitcoin below $80,000, ETH near $2,300, XRP up about 2%
Why it matters: Near-zero correlation between BTC and Chinese equities shows crypto is trading on its own and US macro drivers, not Asian risk-off flows.
Source: CryptoTicker