Kimi K3 launch weighs on Bitcoin and major crypto assets
Moonshot AI's Kimi K3 model rattled semiconductor stocks, dragging Bitcoin below $64K and crypto lower as fear grips markets ahead of the Fed meeting.
Bitcoin fell for a second straight day, dropping 1.4% to trade just under $63,600. It hit a session low of $62,732 early Friday, trimming its market cap and dragging the aggregate crypto market capitalization down 1.8% to $2.26 trillion.
Bitcoin Falls Below $63,000 As Tech-Led Risk-Off Mood Hits Crypto is worth covering because it sits inside one of crypto’s live conversations rather than floating as a standalone headline.
July 17, 2026, 5:30 pmBitcoin fell near $63,000 as chip stocks sold off, the Coinbase premium stayed negative a record 60 days, and ETF flows remain thin.
July 17, 2026, 4:38 pmMoonshot AI's Kimi K3 model rattled semiconductor stocks, dragging Bitcoin below $64K and crypto lower as fear grips markets ahead of the Fed meeting.
Crypto ETF demand split sharply on Thursday, July 16, as bitcoin products drew $79.15 million while ether funds lost $28.04 million. XRP and Solana ETFs also attracted fresh capital, while T. Rowe Price launched a multi-token fund with an unusually large HYPE allocation.
Coinbase Bitcoin Premium Index negative for 60 days.
Michael Saylor cites River data showing fiat currencies average 27 years, framing Bitcoin's fixed supply as the alternative.
Bitcoin options build a $70k call wall as dealers run negative gamma near 68k to 70k, keeping price pinned after a $10.6B expiry and a 307-day range.
Should you bet with Bitcoin or USDT?
Your day-ahead look for July 17,…
Glassnode has identified Bitcoin's short-term holder cost basis near $69,000 as the market's next major recovery test, potentially affecting the outcome for altcoins such as XRP.
Some two-thirds of the coins moving onto exchanges are long-term holders taking losses, as a macro risk-off drags on Bitcoin’s price.