Risk assets advance as bitcoin, gold, silver and memory stocks climb on Monday

Markets are trading higher on Monday, with bitcoin, gold and silver all gaining. Bitcoin is up 1% over the past 24 hours, trading above $63,500, while gold is approaching $4,400 an ounce and silver remains just below $66.

Memory stocks are also surging in pre-market trading. The Roundhill Memory ETF (DRAM) is up more than 4.5%, extending its gain from the July lows to 35%, while Sandisk (SNDK) has climbed over 4%. Semiconductor stocks are higher as well, with Micron Technology (MU) gaining 3%, and the Invesco QQQ is up more than 0.5%.

Bitcoin rises above $64,000 as U.S. 30-year Treasury yield hits highest level since 2007

Bitcoin is trading above $64,000, up almost 2% over the past 24 hours, as long-term government bond yields surge globally.

The U.S. 30-year Treasury yield has reached 5.29%, its highest level since 2007. The U.K.'s 30-year yield has climbed above 5.8%, while its French equivalent has risen to 4.8%, the highest since 2008. Meanwhile, Bloomberg's Global Long Bond Index yield has surged to around 4.2%, also its highest level since July 2008.

Dollar Index drops to its lowest since early June

The Dollar Index (DXY), which tracks the greenback's value against major fiat currencies, fell to 99.29 early Monday, the lowest since June 5, according to data source TradingView.

The decline marks a downside break of a bullish trendline characterizing the ascent from the January low of 95.55. This so-called bearish breakdown suggests more losses ahead. Weakness in the dollar typically bodes well for bitcoin and other risk assets.

Bitcoin looks flat, but the flows have quietly turned, ARP Digital says

Bitcoin near $63,500 looks like more summer torpor, capped below $64,000 and holding above the low-$60,000s, but the flow picture underneath has reversed, said Yusuf Fakhro, partner at ARP Digital, in a note to CoinDesk.

U.S. spot ETFs took in more than 14,000 BTC over five days into August 7, he said, the strongest stretch since May, and the third quarter has drawn roughly 11,000 BTC of net inflows against 110,000 BTC of outflows in the back half of Q2. The institutional selling that defined the second quarter has flipped to buying.

Spot volumes have fallen to two-and-a-half-year lows, perpetual volumes to three-year lows, and volatility sits near multi-year troughs, Fakhro said. Fresh demand arriving into the thinnest tape in years, when nobody is watching, is how durable bottoms tend to form, he argued.

He reads bitcoin's six months stuck between $60,000 and $80,000 — holding near a 50% drawdown rather than grinding lower the way the 2014, 2018 and 2022 bear markets did — as apathy rather than deterioration, with on-chain data starting to show bottoming characteristics as sentiment shifts from panic to caution.

The risk sits on both sides. Bitcoin is as stuck below $64,000 as it is above $62,000 — a box rather than a launchpad — and leverage sharpens it. Perpetual open interest has held above 300,000 BTC through the summer, elevated against its average while volumes collapsed, which leaves the market exposed to a sharp liquidation move in either direction, Fakhro said.

US-Iran ceasefire set to expire with Hormuz shipping frozen, reviving the oil risk

The 60-day US-Iran ceasefire is set to expire Monday with no deal and the two sides at an impasse, and shipping through the Strait of Hormuz has ground to a near halt.

Only five cargo ships passed through the waterway on Saturday and none registered on Sunday, per Kpler data, against 31 the prior weekend. Traffic is down about 90% from before the war began in February, through a strait that normally carries a fifth of the world's oil.

Tehran says it has struck a separate deal with Oman to reopen the strait, but only if the US lifts its naval blockade, per CNBC.

The read for crypto runs through oil. A frozen strait and a lapsing ceasefire keep the risk of an oil-price spike alive, and higher crude feeds the inflation pressure that has kept the Fed leaning hawkish and capped bitcoin all summer. That's the tail risk sitting against the returning-demand case: a supply shock that would firm the dollar and yields at exactly the moment ETF flows are trying to rebuild the trade. Bitcoin held near $63,300 on Monday, still boxed below $64,000.

Oil surging in afternoon action

"We have total control over the Strait [of Hormuz]," said President Trump, speaking to reporters at the White House a short time ago. "The blockade has been very effective."

The news appears to have lit a spark under oil prices, which have surged nearly 3%, pushing Brent Crude to almost $91 per barrel, its highest level in about three weeks.

Saylor: 'We have to be able to sell bitcoin' after STRC drawdown tests Strategy

Strategy executives said STRC's recent drawdown taught the company to keep more cash on hand and remain willing to trade both bitcoin (BTC) and its preferred stock.

CEO Phong Le said Monday that the biggest lesson was the need for U.S. dollar liquidity to backstop STRC dividends and build confidence among institutional investors. Strategy now holds $4.8 billion in dollars, he said.

Executive chairman Michael Saylor said the episode also changed how Strategy approaches its bitcoin holdings. "We have to be able to sell Bitcoin as well as buy Bitcoin for the Bitcoin to be fairly valued," Saylor said. He said refusing to sell bitcoin — which he had preached for years — to fund credit dividends could hurt how investors value Strategy's credit products.

The same logic applies to STRC: Strategy must be prepared to buy STRC as well as issue it, Saylor said. "We were very good at selling STRC at $100, and we were very good at buying BTC," he said. "But now, we have illustrated to the market that we can sell BTC and we can buy STRC."

Strategy says MSTR buybacks are possible but fixing credit business comes first

Strategy (MSTR) is open to buying back its own shares at a deep discount to net asset value, though executive chairman Michael Saylor said the company has other priorities for its capital.

During a Q&A on X on Monday, Saylor said Strategy reviews its capital programs "week by week, day by day." MSTR is not trading below NAV now, he said, making a buyback a lower priority.

"If MSTR is trading at a very, very deep discount to NAV, then probably you would see us do something like that," Saylor said.

For now, Strategy wants to strengthen its credit business, and Saylor argued that using capital for share repurchases could hurt that effort. Strategy has issued preferred stocks, including STRC, as part of its push to raise capital for bitcoin purchases.

CEO Phong Le also pushed back on claims that issuing MSTR shares always dilutes investors. Le said selling common stock above 1x NAV to buy bitcoin can increase the amount of bitcoin backing each share. He also said Strategy can issue equity to fund STRC dividends or repurchase STRC below its issue price. "That's also accretive to our shareholders," Le said. "That's what matters."

Saylor also warned MSTR investors that better equity performance could take time. "I feel your pain," he said. "But I think we have to be prepared to have difficult years. It might be one year. It might be two years."

No change in bitcoin holdings as Strategy raises more cash

Michael Saylor's Strategy (MSTR) raised $333.7 million last week via the sale of common stock, per a Monday morning filing.

Proceeds were used to buy back $132.2 million of its high-yielding preferred stock STRC, with the remainder funding dividends and boosting the cash reserve, which now stands at $4.8 billion.

The company's bitcoin stack remains at 840,447 coins. MSTR is up 1.3% pre-market alongside a small rise in the price of bitcoin to $63,500. STRC is unchanged.

Bitcoin's response to inflation data highlights low correlation, Schwab's Ferraioli says

Bitcoin's muted response to U.S. inflation data from the past few readings shows that crypto-specific factors may be playing a bigger role in driving prices, according to Schwab's director of crypto research, Jim Ferraioli.

The crypto asset showed little reaction to the latest Consumer Price Index (CPI) and Producer Price Index (PPI) reports, despite both releases being closely watched for clues about inflation and potential upcoming changes to interest rates.

Ferraioli said the price action reinforces bitcoin's position as a "low-correlation asset," with traditional macroeconomic data having less influence on the cryptocurrency in the short term. As a result, he said, traders could shift their focus toward developments within the crypto market itself, including changes in regulation, institutional demand and activity in areas such as stablecoins and tokenization.

For Ferraioli, regulatory clarity remains a key catalyst, as clearer rules could reduce uncertainty for financial institutions and encourage more capital to move into digital assets, though the effect would likely play out over a longer period.

Securitize selloff looks overdone despite weak earnings, Benchmark's Mark Palmer says

Securitize's sharp post-earnings selloff may have gone too far, according to Benchmark analyst Mark Palmer, who said the tokenization company's weak second-quarter results, reported last week, do not undermine its long-term prospects.

Shares of Securitize (SECZ) fell almost 29% over two days after its first earnings report as a public company. Revenue declined 5% from a year earlier to $14.4 million, missing Wall Street's $20.6 million estimate. The company also posted a $5.5 million adjusted EBITDA loss and cut its 2026 revenue outlook to $70 million to $80 million from a prior framework of about $110 million.

The analyst said the reduced forecast reflects slower-than-expected growth across crypto, stablecoins and tokenized real-world assets.

One concern is that Securitize's transaction volume jumped 147% while tokenization revenue fell 12%, but the analyst attributed the revenue decline to fewer new protocol integrations rather than fee pressure, arguing the long-term tokenization thesis remains intact. Shares are down another 6.6% on Monday.

NVIDIA backs OpenAI's AI factory in $600 billion compute deal

NVIDIA (NVDA) CEO Jensen Huang announced that the company will begin securing land, power and infrastructure for AI factories, starting with a site in Portsmouth, Ohio, where OpenAI will be the tenant. NVIDIA will support defined portions of the site's lease and power payments, as well as a residual-value commitment, while OpenAI will pay the lease and deploy NVIDIA's computing infrastructure.

The site could generate an estimated $150 billion to $200 billion in NVIDIA revenue during each hardware upgrade cycle over its 20-year lifespan. Including OpenAI's wider planned deployments, NVIDIA estimates the compute opportunity could reach roughly $600 billion through 2030. In an X post, Huang denied accusations of circular financing: "No. OpenAI will pay the lease."

Anthropic revenue reportedly surged to more than $11.5 billion in Q2

Ahead of what may be a mammoth IPO as soon as this fall, AI giant Anthropic saw more than a 14-fold year-over-year jump in revenue to over $11.5 billion last quarter, according to Bloomberg.

The company also posted positive operating income in the second quarter. The news appears to be giving a small boost to sentiment in tech, with Nasdaq 100 futures higher by 0.5%.

HIVE surges 9% on $350 million GPU cloud deal

HIVE (HIVE) surged 9% in Monday pre-market trading after announcing a $350 million, five-year GPU cloud deal. The agreement lifts contracted annual recurring revenue to approximately $180 million, with the company targeting $200 million by Q4 2026.

The announcement follows HIVE's Q1 FY2027 results, which showed revenue rising 73.5% year over year to $79.1 million, while high-performance computing revenue climbed 52% to $7.1 million.

Strive Asset Management acquires 79 BTC, bringing total holdings to 20,246 BTC

Strive Asset Management (ASST) acquired 79 BTC for $5 million at an average price of $63,231 per bitcoin, bringing its total holdings to 20,246 BTC, valued at approximately $1.27 billion.

Strive shares rose 0.5% in premarket trading Monday.

Tom Lee's Bitmine owns 4.8% of ETH supply in latest update

Bitmine Immersion (BMNR) ether holdings are now at 5.815 million tokens, per the company's Monday morning update.

That's equivalent to 4.8% of the total ETH supply.

The company also bought back another 1.7 million shares of stock last week, bringing total buybacks since the start of July to 20.8 million shares. BMNR stock is unchanged pre-market.

Source: CoinDesk