- Bitcoin falls to $63,182, down both daily and weekly amid an AI stock rout.
- SK Hynix and Samsung tumble as AI spending fears hit South Korea’s KOSPI.
- Strategy raises $525M in cash reserves, keeps Bitcoin holdings unchanged.
Bitcoin traded near $63,182, down 3.16% over the past 24 hours and down 3.51% for the week, while Ethereum fell 3.80% to trade around $1,876, also down 2.38% on the week. XRP dropped 4.49% to $1.05, off 5.87% weekly, and Solana slid 4.30% to $73.13, down 6.25% for the week, with the broader selloff tracking weakness in AI-linked equities.
Total crypto market capitalization stood at $2.17 trillion, down 2.81% over the past day. The Fear & Greed Index read 34, still in “fear” territory, while the Altcoin Season Index held at 53.
Trending Searches Show Sharp Divergence
COTI led trending searches with a striking 71.2% surge over 24 hours, while Casper Network rose 2.7% and Hyperliquid’s HYPE token fell 6.7% despite heavy search interest. The gap between COTI’s rally and HYPE’s decline reflects a market where speculative rotation and directional selling are happening simultaneously across trending names.
Semiconductor Rout Spills Into Crypto Markets
South Korea’s KOSPI extended losses to 10%, with SK Hynix down 10% and Samsung Electronics off more than 8%, as investors grew wary of AI infrastructure spending sustainability. SK Hynix’s US-listed ADRs fell as much as 10% intraday to $139.01, dropping below their $149 IPO price and joining SpaceX among major 2026 listings to break below issue price.
Nvidia shares fell nearly 5%, ceding the title of world’s most valuable company back to Apple for the first time since April 2025. The volatility bled into crypto derivatives. Hyperliquid’s SKHX contract flash-crashed 17.9% after an abnormal SK Hynix pre-market order triggered a circuit breaker, with four-hour liquidation volume on the pair surpassing Binance’s.
Total crypto liquidations reached roughly $445 million over 24 hours, with longs and shorts wiped out in nearly equal measure, according to CoinGlass.
Strategy and BitMine Continue Divergent Treasury Moves
Strategy raised $525 million in net proceeds through its MSTR ATM program over the past week while leaving its Bitcoin holdings unchanged at 843,775 BTC, pushing dollar reserves to $3.75 billion. BitMine added 9,946 ETH and repurchased 6.1 million common shares over the same period, lifting its total ETH holdings to 5,787,414, roughly 4.8% of Ethereum’s supply.
Clarity Act Pushed Back Again
Senate Majority Leader John Thune temporarily shelved the Clarity Act to prioritize official confirmations and a Russia sanctions bill, with the Senate also losing floor time this week for the late Senator Lindsey Graham’s funeral. A floor vote is now unlikely before next week, just ahead of the August 8 recess. Franklin Templeton became the latest asset manager to publicly back the bill, saying it would give investors clear protections and clarify regulatory oversight, even as Democrats continue to view the White House’s ethics provision as insufficient.
Security and Privacy Incidents
A configuration error in Anthropic’s Claude sharing feature caused shared conversations to become publicly searchable via Google, exposing sensitive data including crypto wallet seed phrases and Social Security numbers before the issue was addressed.
Corporate and Institutional Developments
Nvidia announced a multibillion-dollar investment in Ilya Sutskever’s Safe Superintelligence, granting the startup expanded access to Nvidia’s Vera Rubin computing platform. Circle acquired nearly 1,000 blockchain patents from IBM to support USDC, its Arc blockchain, and AI agent payment tools. Kraken parent Payward agreed to acquire Magic Labs’ embedded wallet business, while Uphold announced a 17% workforce reduction amid slower retail trading activity.
Related: India Issues New Crypto Reporting Guidelines for Exchanges Under CARF
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