Crypto Market: Tech Selloff and Oil Surge Squeeze Crypto Prices

The crypto market came under heavy pressure amid a global rout in technology stocks. Bitcoin (BTC) fell about 1% and traded at $64,000 U.S. late on July 17, 2026. Japan's Nikkei 225 index fell as much as 5%, while the NASDAQ Composite dropped over 550 points. Ethereum (ETH) also fell by 3% and traded at $1,830. The crypto selloff was compounded by rising oil prices, with Brent crude up 5% at $88/barrel. The U.S.-Iran tensions and the prospect of Federal Reserve rate hikes also weighed on risk assets. In the crypto space, U.S.-based Strategy left its Bitcoin holdings unchanged and increased its dollar reserves by $466.7 million. Meanwhile, the Paris-based Financial Action Task Force warned that organized crime is using crypto to launder billions of dollars, with global crypto laundering reaching $158 billion in 2025. The crypto market's volatility is largely seen as a side effect of the broader tech sector downturn.