Cryptocurrencies lag stocks rally as etf demand cools

Major cryptocurrencies declined over the past week while the S&P 500 extended its longest weekly winning streak since 2023. Bitcoin and ether fell nearly 3 percent each amid softer inflows into spot bitcoin exchange-traded funds. Smaller tokens such as Hyperliquid's HYPE provided the only notable gains.

The S&P 500 recorded its ninth consecutive weekly advance, the longest such streak since 2023. Brent crude settled near 92 dollars a barrel on hopes for an extension of the U.S.-Iran ceasefire. President Donald Trump indicated he was prepared to make a final determination on a preliminary agreement but maintained demands that Iran abandon its nuclear program and open the Strait of Hormuz.

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Illustration of Bitcoin falling below $65,000 amid oil prices topping $100 due to Red Sea tanker attacks and geopolitical tensions.
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Bitcoin falls below $65,000 as oil tops $100

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Bitcoin traded near or below $65,000 this week after oil prices surged past $100 a barrel. Attacks on tankers in the Red Sea prompted President Donald Trump to threaten military action against Iran and the Houthis. Spot Bitcoin ETFs recorded $225.2 million in net outflows on July 23.

Bitcoin fell below $63,000 on Monday amid renewed U.S.-Iran airstrikes over the Strait of Hormuz. The move reflected broader risk-off sentiment in markets as oil prices climbed.

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Bitcoin traded around $64200 on Monday, little changed for the day but up 3 percent for the week. Surging oil prices linked to U.S.-Iran strikes and a semiconductor selloff triggered by a new Chinese AI model weighed on the market.

Bitcoin slipped below $63,000 on Friday amid a broader selloff in risk assets, erasing earlier gains linked to an Iran deal that eased oil supply concerns.

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Bitcoin declined sharply as tensions between the US and Iran escalated with reported strikes. The drop triggered widespread liquidations across crypto markets.

Bitcoin approached $79,000 as markets eyed the highest weekly close since late January. Traders highlighted strong ETF inflows amid US-Iran tensions, though some warned of potential liquidity traps. The cryptocurrency recovered earlier weekly losses by Sunday.

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