Bitcoin traded around $63,073 on Friday with a 24-hour volume of $15.85 billion and a market capitalization of $1.27 trillion, barely moving while artificial-intelligence equities whipped through memecoin-style volatility. The contrast frames a week in which the AI trade cracked under earnings pressure, margin calls, and macro shocks, while the largest cryptocurrency hovered near a Fibonacci support level that has held since late July.
The Dow Jones Industrial Average fell 1,153 points (2.2%) on July 29 as AI chip stocks led the decline and oil jumped 7.3% on renewed Middle East fighting. The Nasdaq dropped 1.7% to sit 9.8% below its June record, and the S&P 500 lost 1.5%. Over $1 trillion in chip-stock market value evaporated during the week, led by NVIDIA, SK Hynix, and Samsung.
The Federal Reserve held rates at 3.5%โ3.75% in a split 9โ3 vote, with three officials dissenting for a hike โ the most divided decision of 2026 โ while 10-year Treasury yields climbed to 4.68%, the highest since the Iran escalation began.
Bitcoin held near $64,400 after the Fed decision even as $322 million in crypto positions were liquidated across the day. Short liquidations approached $100 million in the 24 hours through August 1 as BTC reclaimed the $63,000 area on improved risk sentiment tied to Trump remarks about a potential Iran deal.