🔴🔴 PANIC: Bitcoin below $64,000 - Crypto | July 25
$BTC requests before $63,900 amid a general decline in stock markets
The market reacts to the weak earnings reports of tech giants (Intel, Micron) and worries about excessive spending on AI, which pulled the Nasdaq index down to a 11-week low.
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Key for the day:
📍End of ETF inflow series
BTC-ETFs beat the 7-day “green” streak on record. A pullback was registered in the amount of 225.1 million, with the main outflow occurring from BlackRock’s IBIT fund (−202.5 million)
📍Altcoins
The drop wiped out almost all assets. The biggest losses were for Dogecoin (-4.5%), Ether (~3%), as well as Sui, Cardano, and NEAR. The only exception was UNI, which rose by 1.5%
📍New metrics from Saylor
Against the backdrop of MicroStrategy shares falling by 80% year-over-year and the disappearance of the premium to the Bitcoin price, Saylor presented a new “MSTR-BTC” management dashboard. However, investors are skeptical, calling the new indicators an attempt to lure the market
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Macro factors:
➖Oil: WTI price fell by 4.3% due to rumors about possible peaceful negotiations between the US and Iran
➖Japan: Inflation accelerated to 1.7%—the highest since December—though it remains below the target 2%
➖Nvidia CEO urged the development of open AI models for security and innovation
So, the market is in a consolidation phase and is waiting for the next moves from the Fed.
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