Bitcoin (CRYPTO: $BTC) and different digital property have been underneath stress to finish the week amid a world rout in expertise shares.
BTC was down about 1% and buying and selling at $64,000 U.S. late on the afternoon of July 17 as buyers rotate out of shares tied to the factitious intelligence (A.I.) commerce. Japan’s Nikkei 225 index was down as a lot as 5% amid heavy promoting of A.I. shares. At one level, the technology-laden Nasdaq Composite (NASDAQ: $NDAQ) index was down greater than 550 factors.
The state of affairs is weighing on crypto as different digital property comparable to Ethereum (CRYPTO: $ETH) fell as a lot as 3%. ETH was buying and selling at $1,830 U.S. in late day buying and selling. Bitcoin’s value had damaged above $65,000 U.S. earlier within the week. However the positive aspects proved short-lived as crypto acquired dragged down by the tech selloff.
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Additionally pressuring digital property are rising oil costs, with Brent crude, the worldwide normal, up 5% on July 17 and buying and selling at $88 U.S. a barrel. Oil costs have risen 30% over the past two weeks as combating between the U.S. and Iran continues. Increased power costs increase the prospect that the U.S. Federal Reserve will carry rates of interest to fight inflation, which is dangerous information for threat property comparable to cryptocurrencies.
This is what else occurred with crypto over the previous week…
Technique Leaves Bitcoin Holdings Unchanged: Cryptocurrency treasury agency Technique (NASDAQ: $MSTR) left its holdings of Bitcoin unchanged over the previous week. The corporate led by Chairman Michael Saylor made no Bitcoin purchases or gross sales within the final seven days, leaving its holdings at 843,775 BTC. As an alternative, Technique elevated its U.S. greenback reserves by $466.7 million U.S. to $3 billion U.S. by means of at-the-market inventory gross sales.
Organized Crime Strikes Billions Utilizing Crypto: The Paris-based watchdog group, the Monetary Motion Activity Drive, is warning that organized crime is shifting billions of {dollars} in illicit funds world wide utilizing cryptocurrencies. A brand new report states that crypto-enabled crime has turn out to be extra “advanced and interconnected.” Specifically, prison teams are utilizing crypto to launder cash and are additionally utilizing crypto to perpetrate scams and funding fraud. Crypto cash laundering reached a report $158 billion U.S. globally in 2025, based on Chainalysis.
Citadel Securities Invests $400 Million In Crypto.com: Main hedge fund Citadel Securities has invested $400 million U.S. in Crypto.com as a part of a funding spherical that valued the digital asset alternate at $20 billion U.S. Crypto.com has concluded its first institutional funding spherical because it was based a decade in the past. Among the many notable buyers within the newest spherical for privately held Crypto.com was hedge fund Citadel Securities, led by well-known investor Ken Griffin.
Morgan Stanley Brings Crypto Buying and selling To E*TRADE: Morgan Stanley (NYSE: $MS) has added cryptocurrency buying and selling to its well-liked E*TRADE platform. The web brokerage is now permitting customers to commerce Bitcoin and some different cryptocurrencies. Whereas E*TRADE is thought for its zero-commission inventory trades, it’s charging purchasers a 0.50% payment on every commerce involving Bitcoin, Ethereum and Solana (CRYPTO: $SOL). Clients can now purchase, promote, and maintain the three cryptocurrencies by means of the brokerage platform.
Kalshi Permits Betting On Medical Trials And Drug Choices: Prediction market Kalshi is permitting customers to guess on the outcomes of scientific trials and U.S. Meals and Drug Administration (FDA) selections pertaining to regulatory evaluations and new medication. Individuals can now guess on the result of late-stage scientific trials and whether or not or not the FDA approves a sure remedy to be used within the U.S.
U.S. Freezes $131 Million In Iran-Linked Crypto Wallets: The American Treasury says it has frozen $131 million U.S. value of digital property in a number of cryptocurrency wallets tied to Iran’s Central Financial institution and the Islamic Revolutionary Guard. Iran has reportedly spent years constructing cryptocurrency infrastructure to avoid sanctions from the U.S. and different nations. Iran legalized Bitcoin mining in 2019 and depends on stablecoins to assist it evade financial sanctions, says the U.S. authorities.
Binance To Grow to be Crypto Tremendous App: Cryptocurrency alternate Binance has introduced plans to turn out to be a “tremendous app” for digital property comparable to Bitcoin. Binance says its subsequent part of progress will come from funds and monetary companies relatively than cryptocurrency buying and selling. In a media interview, Shunyet Jan, Binance’s head of spot buying and selling, stated that the alternate is seeking to morph right into a cryptocurrency tremendous app in coming years. “We’re making an attempt to not simply be a crypto alternate, however be a brilliant app that entails fee,” stated Jan.
Bitcoin Mining Declined In June: Manufacturing ranges for Bitcoin miners fell in June of this yr. Publicly traded Bitcoin miners CleanSpark (NASDAQ: $CLSK), BitFuFu (NASDAQ: $FUFU) and Canaan (NASDAQ: $CAN) reported decrease bitcoin manufacturing final month. The weaker manufacturing comes regardless of Bitcoin’s mining issue falling greater than 10% in June to its lowest stage of 2026. Bitcoin miners use banks of high-powered computer systems to unravel advanced mathematical equations that result in the minting of recent BTC.
Prediction Market Buying and selling Quantity Hits $50 Billion: Betting on the World Cup propelled buying and selling volumes on prediction markets to $50 billion U.S. in June. This yr’s FIFA World Cup has formally turn out to be the largest sports activities betting occasion in historical past. Kalshi posted $31 billion U.S. in buying and selling volumes for June, a 70% enhance from Might of this yr, with betting on sports activities accounting for 85% of the buying and selling on its platform. Kalshi stated that World Cup betting on its platform totaled $22.42 billion U.S. in June.
Ethereum Staking Generates 98% Of Bitmine’s Income: Crypto treasury agency Bitmine Immersion Applied sciences (NYSE: $BMNR) says that Ethereum staking generated 98% of its income in its newest quarter. The corporate, led by Chairman Tom Lee, stated Ethereum staking turned its dominant income through the quarter ended Might 31, producing $45.7 million U.S. Lee has forecast that Bitmine’s annualized staking income will attain $284 million U.S. as soon as all the firm’s Ethereum holdings are staked.
