SK Hynix's massive profit surge somehow disappointed Wall Street, triggering a semiconductor selloff that rippled into crypto markets via a $60 million liquidation event on Hyperliquid. That number spooked investors who are increasingly asking an uncomfortable question: are hyperscalers overbuilding AI infrastructure relative to actual demand? Micron, SK Hynix’s closest US competitor in the memory space, tumbled 9%. Barclays responded by cutting its price target on SK Hynix’s US-listed ADRs from $330 to $300. SK Hynix-related perpetual futures on the platform cratered approximately 19-20% in what appeared to be a cascading liquidation event.