The crypto market barely moved, rising just 0.18% to hold a $2.2 trillion valuation on July 24. This minor gain came as stock markets tumbled, pushing some investors to shift funds into digital currencies.
Oil prices climbing above $100 a barrel played a major role. Brent crude surged 42% in just 20 days following attacks on Saudi tankers, rekindling inflation fears. Rising energy costs pressured risk assets, including cryptocurrencies, limiting crypto’s upside despite the inflows.
Meanwhile, the S&P 500 fell by 1.21%, led by Alphabet’s 4% drop after announcing a steep increase in its 2026 AI spending plan. This added to jitters around rising bond yields, with the 10-year Treasury yield hitting 4.71%, the highest since early 2025. This environment nudged some money into crypto, which held the $2.2 trillion support level without breaking higher.
One standout in the crypto sector was Audiera (BEAT), which jumped nearly 20% on Friday. That’s brought its total gain since July 21 to about 46%, though the rally is showing signs of slowing as buying volume tapers off. BEAT stalled at $3.13, the 0.5 Fibonacci retracement level, indicating a possible price ceiling is forming.
Coinbase’s new AI-driven tools may soon offer fresh trading options amid these market dynamics.
