Semiconductor stocks fell across Asia after concerns over China's growing chipmaking capabilities. Bitcoin and the broader crypto market edged lower.
A few days before the monthly close, bitcoin sends a signal that worries the market. For the third time in a few hours, the leading crypto failed below the $65,500 resistance, triggering a wave of liquidations estimated at $75 million.
Withdrawal activity may have risen, but wallet movements don't always mean selling.
Bitcoin fell back under $64,000 on July 28 as roughly $100 million in leveraged positions were wiped out across the crypto market inside 60 minutes, marking the third time this week traders have been flushed out around that level.
The leading cryptocurrency by market capitalization tumbled over 3% during Tuesday's trading session, reaching $63,494 — representing its weakest performance in a week and a half. This decline coincided with widespread selling pressure across AI-focused technology equities that spread contagion into digital asset markets.
The crypto market's long-awaited 'altcoin season' remains elusive, even as a widely watched rotation gauge ticks higher. CoinMarketCap's Altcoin Season Index rebounded to 53 on Monday, signaling a modest recovery in broad altcoin performance—but still far below the threshold that typically marks a sustained risk-on shift away from Bitcoin (BTC).
The Hong Kong Monetary Authority (HKMA) published a white paper on quantum preparedness on July 27, rating its banking sector 2.3 out of 10 and targeting full readiness by 2030.
Upbit added RLUSD trading against KRW, BTC and USDT, with XRP Ledger deposits and temporary order limits during the launch.
Bitcoin may be trading above what some investors expected this year, but according to Charles Schwab's Head of Crypto Research, Jim Ferraioli, its “fair value” could actually be closer to $95,000. Ferraioli said his valuation is based primarily on Bitcoin's mining economics, rather than short-term market sentiment.
Bitcoin BTC$65,148.57 has come under pressure since the U.S. stock market closed Monday, with South Korea's Kospi leading Asian equities lower and providing risk-off cues to the cryptocurrency market.
Shifts in Bitcoin and Ethereum ETF flows may signal changing investor sentiment, potentially impacting broader cryptocurrency market dynamics. Bitcoin ETFs see $12M outflow, Ethereum funds gain $9M on July 27.
Rising interest rates and economic uncertainty may drive investors away from volatile assets like Bitcoin, favoring safer investments. Bitcoin declines in early Asia trading as interest rate fears rise.