Bitcoin fell below the $64,000 mark on July 29-30, pressured by a deepening global AI chip stock selloff. SK Hynix earnings missed estimates, and concerns over Nvidia’s credit default swaps spiked due to "circular financing" fears tied to AI. Bitcoin traded around $63,799 to $63,953, down 3.87% for the week, while Ethereum held near $1,900 with a 1.87% weekly decline. The total crypto market cap stood at $2.18 trillion, and the Fear & Greed Index remained in fear territory at 35.
Major altcoins presented a mixed picture. XRP slipped to $1.07, down 5.86% for the week, and Solana dropped to $73.26, losing 6.21% weekly. Hyperliquid's HYPE token extended its decline, falling 3.55% to $54.10 and marking a 10.59% weekly drop. In contrast, BNB rose 0.7% to $574.22, and TRON added 0.3% to $0.3275, while Dogecoin shed 1% to $0.06992.
Smaller-cap tokens stole the spotlight, with COTI (COTI) surging 33.4% to $0.016, leading top gainers. Other strong performers included SIXSEVEN (67) up 30.4%, and UnifAI Network (UAI) up 23.9%. This divergence signaled a rotation of capital into select altcoins amidst broader market caution.
