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Bitcoin stayed near $66,300 on July 22 after rising about 1% over 24 hours. U.S. chip stocks continued their rebound, while the Japanese yen weakened past 163 per dollar.
The Nasdaq gained 1.29% while Bitcoin remained close to $66,000 during the following Asian session. Brent Crude also rose as markets tracked renewed threats to Middle East shipping routes.
Bitcoin Holds Its Latest Gains
Bitcoin traded close to $66,300, with its market value near $1.33 trillion and daily trading volume around $31 billion. The price remained above $65,000 after recovering from weakness earlier in July, but it had not moved clearly above its recent range.
The cryptocurrency moved higher alongside U.S. equities during the latest session. The Nasdaq rose 1.29%, while the S&P 500 gained 0.89% and the Dow added 0.74%.
Chip Stocks Lead the Market Rebound
Semiconductor shares produced the strongest gains on Wall Street. The Philadelphia Semiconductor Index rose 5.2% for its second consecutive advance after recovering about 10% from a decline of more than 20%.
SanDisk jumped 14.3%, Western Digital gained 12.5%, and Micron Technology climbed 12.2%. Bitcoin gained during the same session, though the connection to the chip rally is correlational rather than direct.
Yen Drops Beyond 163 per Dollar
The yen fell to about 163.14 per dollar, passing 163 for the first time since 1986. Traders continued watching for a possible response from Japanese authorities after the currency reached another four-decade low.
The dollar strengthened as the yen declined, while higher crude prices increased pressure on Japan’s import costs. The yen’s weakness also reflects concerns about Japan’s fiscal plans and the direction of monetary policy.
Brent Crude Hits Five-Week High Near $91
Oil reached a five-week high after two Saudi tankers changed course in the Red Sea following threats from Yemen’s Houthi movement. Brent Crude settled near $91.01 per barrel, while U.S. crude closed around $84.91.
The stronger dollar, weaker yen, and higher oil prices occurred alongside gains in technology stocks and Bitcoin. Bitcoin later traded near $66,077 during Asian hours, while markets turned their attention to major technology earnings and further moves in energy prices.
