Bitcoin fell about 1.3% to US$63,900 on July 20.

Traders weighed rising oil prices linked to escalating hostilities between the US and Iran, as well as continuing selloff in semiconductor stocks.

The cryptocurrency was still up 2% for the week.

Ether slipped 1.1% to US$1,850, BNB fell 0.8% to US$564, XRP dropped to US$1.09, Dogecoin lost 1.4%, and Hyperliquid’s HYPE token was still the weakest among major tokens, down 8% for the week at US$60.

Brent crude rose above US$91 a barrel after the US and Iran escalated hostilities around the Strait of Hormuz.

Attacks disrupted vessel transit, and an Iranian strike hit a Kuwaiti oil facility, raising the risk of supply disruptions.

South Korea’s Kospi fell 3.5% as the July 17 chip-stock selloff continued.

Investors were questioning valuations after sharp AI-driven gains.

Weakness in semiconductor shares continued to pressure Asian markets.

🔗 Source: CoinDesk