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Crypto 12.07: BTC around 64K, market sways in Iran's shadow

Daily update for 12 July (Sunday) global crypto markets: top 15 coins, stablecoins, NFTs, ETF flows and regulation. Bitcoin oscillates between 63,000–64,000, Ethereum briefly touches 1,842, markets consolidate amid US–Iran tensions, and sentiment stays in fear territory.

Toms Ābeltiņš

13 July 20267 min read

On Sunday, 12 July, crypto markets took a cautious holding pattern: Bitcoin oscillated between 63,000–64,000 throughout the day, Ethereum briefly touched 1,842 in the evening before retreating sharply, while most altcoins traded sideways. Total market capitalisation held around 2.16 trillion USD, with sentiment remaining in fear territory—chiefly due to escalating US–Iran threats. Over 150 million USD in liquidations occurred in 24 hours, with roughly 86 million from long positions. Latest ETF data (10 July) shows +90.4m USD in spot Bitcoin funds, though the 30-day balance remains deeply negative at −4.73bn USD. In DeFi, Bonzo Lend lost roughly 9.05m USD in a Hedera oracle exploit, while NFT markets surged in July with 6.6bn USD capitalisation.

Global crypto markets 12 July: BTC oscillates around 64,000 as markets consolidate amid Iran tensions

Sunday, 12 July, was a day of cautious waiting for crypto. Bitcoin oscillated between 63,000–64,000 throughout the day, Ethereum briefly touched 1,842 in the evening before retreating sharply, whilst most altcoins traded without clear direction. Trading volume rose roughly 18% in 24 hours, yet overall sentiment remained in fear territory—largely because investors were watching escalating US–Iran geopolitical risks. Over 150 million USD was liquidated during the weekend, of which roughly 86 million came from long (bullish) positions.

Market overview

Total crypto market capitalisation held steady around 2.16 trillion USD on Sunday, shifting only marginally (−0.06%) in 24 hours. Bitcoin dominance remained around the 56% level. Following the previous week's recovery—when BTC and ETH gains over seven days had climbed nearly 3%—the weekend marked a pause: markets took a holding position ahead of key macro data and amid geopolitical uncertainty.

Volatility remained present. Daily liquidations exceeded 150 million USD, with long positions taking a harder hit this time (around 86 million)—a sign that after the previous week's gains, some speculators had positioned themselves too optimistically. Analysts characterised market sentiment as "fear": whilst prices held relatively high, conviction for further upside was lacking.

Institutional capital continued to draw discussion in the background. Following June—the worst month in spot Bitcoin ETF history with over 4 billion USD in outflows—July had started with a few positive inflow days, yet the 30-day balance remains deeply negative. Markets are seeking confirmation as to whether institutions are genuinely returning, or whether this is merely short-term tactical rebalancing.

Top 15 coins on 12 July

Large-cap coins mostly consolidated on Sunday, with price moves remaining modest. Prices below reflect weekend levels.

1. Bitcoin (BTC) ◆ ~64,000 USD (volatile)

Bitcoin oscillated between 63,000 and 64,000 throughout Sunday, unable to convincingly hold above 64,000. Over the week, BTC retained nearly 3% gains, and technically the critical resistance remains at 65,000 USD—breaching it would clear the path to the 15 June peak of 67,250 USD. For now, market participants held back, refraining from larger directional bets.

2. Ethereum (ETH) ◆ ~1,800 USD (volatile)

Ethereum briefly spiked to 1,842 USD in the evening but quickly retreated below 1,810 USD. Weekly balance remains positive (around +3%), and institutional demand has not disappeared: Ethereum ETF attracted fresh capital on the latest trading day, with ETHA leading.

3. Tether (USDT) ◆ ~1.00 USD (stable)

USDT maintained parity with capitalisation around 184 billion USD, retaining its status as the largest stablecoin crypto asset. Following the end of MiCA transition periods, the issuer's availability on regulated EEA exchanges continues to contract, yet global demand remains robust.

4. BNB ◆ ~576 USD (unchanged)

BNB traded around 576 USD with nominal losses. Network activity remains stable, though without new catalysts the coin follows the broader market.

5. USDC ◆ ~1.00 USD (stable)

USDC maintained parity with capitalisation around 73 billion USD. The competitive landscape for regulated stablecoins is becoming increasingly intense as the GENIUS Act implementation rule deadline approaches on 18 July.

6. XRP ◆ ~1.11 USD (sideways)

XRP traded sideways around the 1.11 USD level. Ripple's full MiCA licence in Luxembourg continues to cement the company's position in Europe, yet in the near term XRP price remains driven by Bitcoin direction rather than company-specific fundamentals.

7. Solana (SOL) ▼ ~78 USD (−1% daily)

Solana retreated to roughly 78 USD. Ecosystem-wise, attention was drawn to the Morpho protocol launch on Solana via Sunrise, though SOL price itself remained slightly in the red in line with the broader altcoin market.

8. TRON (TRX) ▼ ~0.33 USD (−1% daily)

TRX continued its typical low-volatility trajectory—the network remains one of the largest USDT settlement layers with a stable revenue base.

9. Hyperliquid (HYPE) ▼ ~66 USD (−2.2% daily)

HYPE was one of the weaker large-cap coins, retreating to roughly 66 USD. After several weeks of strong performance, the derivatives exchange token took a correction.

10. Dogecoin (DOGE) ◆ ~0.074 USD (sideways)

DOGE traded sideways around 0.074 USD without clear direction, the memecoin segment broadly quiet over the weekend.

11. Zcash (ZEC) ◆ ~499 USD (consolidation)

ZEC continued consolidating near 500 USD, holding its top-12 position. The project has confirmed the Ironwood update for 28 July, designed to address Orchard private pool issues.

12. Stellar (XLM) ◆ ~0.19 USD (unchanged)

XLM continued trading around 0.19 USD without clear direction.

13. Cardano (ADA) ◆ ~0.167 USD (consolidation)

ADA consolidated around 0.167 USD. Following an early-July recovery, the coin took a pause, tracking the broader market.

14. Monero (XMR) ▲ ~323 USD (+2.2% daily)

XMR was one of the day's stronger large-cap coins, gaining over 2%. The privacy coin narrative remains one of 2026's most durable stories.

15. Chainlink (LINK) ▲ ~7.98 USD (+1.1% daily)

LINK moved towards the 8 USD resistance level—a breakthrough would be the first technical positive signal since mid-June.

Stablecoins

Stablecoin total capitalisation held above 260 billion USD: USDT ~184bn, USDC ~73bn. July's key event is still ahead—US GENIUS Act implementation rules are expected on 18 July, with fierce debate surrounding whether stablecoin issuers will be permitted to offer yield. In Europe, following Ripple's full MiCA licence, RLUSD positions in regulated markets continue to strengthen. The weekend also drew attention to real-world use cases: Hyundai completed a USDT cross-border remittance on the Avalanche network between US and Mexican subsidiaries, with settlement taking seven minutes.

NFT markets

NFT markets are experiencing strong recovery in July. Total NFT market capitalisation reached roughly 6.6 billion USD—94% higher than the previous month—whilst weekly trading volume jumped to roughly 136 million USD (+51%), the strongest week since February. Gains were led by CryptoPunks, whose floor price rose 53% and the collection reclaimed most-traded NFT status. Pudgy Penguins briefly eclipsed CryptoPunks on seven-day volume, hitting over 20 million USD. Notable was GameSquare Holdings' announced acquisition of CryptoPunk #5577 ("Cowboy Ape") valued at 5.15 million USD in preferred shares.

ETF fund flows

With no ETF trading on Sunday, the most recent data is from 10 July. Spot Bitcoin ETF attracted 90.4 million USD on Friday, with flows led by BlackRock's IBIT at 86.8 million. Ethereum funds added 18.4 million USD, of which 16.2 million flowed into ETHA. Bitcoin ETF seven-day balance turned positive (+124.9m), yet the 30-day picture remains deeply negative at −4.73 billion USD—one strong day does not erase weeks of institutional selling. Markets now await the next ETF flow data to confirm a genuine turnaround or a return to negative trends.

Security incidents

Near the weekend, the DeFi sector was shaken by the Bonzo Lend incident on Hedera: an attacker exploited a verification vulnerability in a third-party Supra oracle contract and drained roughly 9.05 million USD. The incident again highlighted the risks stemming from dependence on external oracle infrastructure.

Separate tremors hit LAB token, whose price crashed nearly 32% on suspicions of insider trading—multiple reports indicated that roughly 8 million LAB tokens were moved to exchanges and possibly sold. The event highlighted the risks of concentrated holdings and thin liquidity.

Regulatory news

The week was rich with positive regulatory developments. Ripple obtained full MiCA CASP authorisation from Luxembourg's CSSF, becoming fully compliant for crypto services across 30 EEA nations. Circle received final US OCC approval to establish Circle National Trust, expanding custody and reserve management operations under federal oversight. On the US side, SEC's "Regulation Crypto" agenda—featuring safe harbours for certain on-chain activities and potentially publishable in July—remains in focus. The calendar is busy: GENIUS Act stablecoin rules are expected 18 July, whilst discussions continue on CLARITY Act progress.

Macroeconomic context

The weekend consolidation's primary driver was geopolitics: escalating US–Iran tensions prompted investors to pull back from risk assets. Meanwhile, markets await incoming macro data over the coming weeks, including US inflation figures and the month-end Fed meeting where interest rates will be decided. Analysts note that crypto's resilience thus far amid geopolitical stress has strengthened conviction—for instance, Michaël van de Poppe predicts a strong Bitcoin upswing soon, warning that many investors will sell "too early".

Key figures—12 July

Bitcoin: ~64,000 USD (volatile, 63,000–64,000 range; week ~+3%)
Ethereum: ~1,800 USD (evening touch 1,842 USD; week ~+3%)
Total market capitalisation: ~2.16tn USD (−0.06% daily)
Bitcoin dominance: ~56%
Sentiment: fear zone
Daily liquidations: >150m USD (roughly 86m long positions)
Spot Bitcoin ETF 10 July: +90.4m USD (IBIT +86.8m); ETH ETF +18.4m USD
Bitcoin ETF 30-day balance: −4.73bn USD
Bonzo Lend: ~9.05m USD lost in Hedera oracle exploit; LAB token −32%
NFT markets: capitalisation ~6.6bn USD (+94% monthly), weekly volume ~136m USD
Next catalysts: GENIUS rules 18 July, US inflation data, month-end Fed meeting, Zcash Ironwood 28 July

This article was prepared with artificial intelligence assistance and is intended for informational purposes only. It should not be considered investment advice. Always conduct your own research before making investment decisions.

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