Bitcoin slipped below the $64,000 support level on July 28, reaching a low around $63,200 as weakness in technology and semiconductor stocks weighed on broader risk assets and pulled cryptocurrency prices into a short-term correction phase.
According to market data from KuCoin, Bitcoin traded down 2.49 percent at $63,763.80, while Ethereum fell 3.17 percent to $1,892.49.
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The decline followed repeated failed attempts by Bitcoin to break through key resistance at $65,000.
Equities and Geopolitical Context
The pullback in digital assets mirrored broader pressures in U. S.
equities, where declining semiconductor stocks, including Nvidia, offset market support provided by falling international oil prices.
The Nasdaq composite fell 0.18 percent to 24,932.08, while the S&P 500 edged up 0.02 percent to 7,413.18.
Geopolitical tensions showed signs of stabilization after former President Donald Trump paused military strikes against Iran during a tactical ceasefire.
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However, the Strait of Hormuz remains closed while both sides maintain indirect communication through diplomatic intermediaries.
In sector-specific developments, Ondo Finance announced the launch of its Ondo Network execution layer to support 24/7 perpetual trading of real-world assets.
Meanwhile, Hyperliquid faces liquidity monitoring ahead of a scheduled $415 million HYPE token unstaking event over the coming week.
Regulatory and infrastructure updates also emerged across the industry, with the CLARITY Act draft introducing new ethics provisions ahead of a potential U.
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S. legislative vote scheduled as early as August 3.
