Bitcoin pushed above $64,000 on Tuesday, rising over 1% on the day. It was the only major cryptocurrency to post a meaningful daily gain as most of the market drifted lower.
Ether slipped half a percent to just under $1,900. XRP fell over 1% to just under $1 and is down more than 2% on the week, making it the weakest performer among large tokens.
Dogecoin dropped nearly half a percent to 7 cents. BNB and Tron both edged lower, while Solana held flat at just under $76.
Hyperliquid’s HYPE stood out among smaller tokens, up almost 1% on the day and 7.5% over seven days.
Analyst Alex Kuptsikevich of FxPro said Bitcoin has spent four days below its 50-day moving average. He added that sellers are in control on both medium and long-term trends until the price breaks out of the $62,000 to $65,000 range.
Publicly listed Bitcoin miners have cut their combined computing power by 21% across three quarters. The shift is driven by weak mining economics and competition from the AI sector for capital and electricity, according to Miner Weekly.
AI platform Venice, founded by crypto entrepreneur Erik Voorhees, reported it crossed $100 million in annualised revenue. Its VVV token rose 10% on the day to around $13.30.
U.S. stock futures fell in early Asian trading on Tuesday. The S&P 500 Futures dropped 0.4%, Nasdaq 100 Futures fell 0.8%, and Dow Jones Futures were down 0.1%.
This followed a weak session on Wall Street. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all fell between 0.3% and 0.5%.
Energy stocks were the only S&P 500 sector to gain, rising 0.9%, as oil climbed more than $2 a barrel.
Brent crude rose above $91 per barrel. President Trump threatened military action against Oman if it interfered with U.S. efforts to reach a deal with Iran. Iranian media also reported the seizure of a UAE-owned oil tanker.
Rising oil prices pushed the 30-year Treasury yield to 5.31%, its highest level in nearly two decades.
Investors are watching a busy week of retail earnings. Walmart, Home Depot, and Target are all scheduled to report results this week.
The Fed meeting minutes are due Wednesday. The central bank held rates at 3.50% to 3.75% at its July meeting, but the decision was split, with three policymakers voting for a hike.
Weaker-than-expected July retail sales and employment data have raised questions about the strength of the U.S. consumer heading into earnings season.
The post Daily Market Update: Bitcoin Hits $64K as Stock Futures Drop on Iran Oil Fears appeared first on CoinCentral.
