Bitcoin Weakens Below $120K, Crypto Stocks Take a Hit Across Global Markets

TradingKey – Bitcoin’s continued price softness is dragging down crypto-linked equities across both U.S. and Hong Kong markets.

On Tuesday, July 29 (Asia time), Bitcoin  (BTC) remained under pressure, trading at $118,760, stuck below the $120,000 resistance level. Despite holding within the $115K–$120K range, both lower highs and lower lows are forming, indicating bearish dominance.

1-Hour BTC Price Chart – Source: TradingView

Crypto Stocks Slide in U.S. Markets

On Monday (U.S. time), several crypto-related stocks saw sharp declines:

• BitMine Immersion (BMNR): -11%
• Canaan Inc. (CAN): -8%
• SharpLink Gaming (SBET): -5%
• Circle (CRCL) and Coinbase (COIN): -3%+

Hong Kong Crypto Stocks Follow Suit

During Tuesday’s Asia session, Hong Kong-listed crypto concept stocks also fell:

• Victory Securities (HK.08540) and Delin Holdings (HK.01709): -4%+
• Yika (HK.09923) and ZhongAn Online (HK.08540): -3%+
• Boyaa Interactive (HK.00434) and Leading Biotech (HK.00399): also declined