--- title: "Bitcoin, Ethereum, XRP, Dogecoin Fall as US Strikes on Iran Enter 13th Day: Analyst Says Correction Isn't 'Great' for the Market" type: "News" locale: "en" url: "https://longbridge.com/en/news/293697628.md" description: "Cryptocurrencies and stocks declined on July 23 due to heightened Middle East tensions from US strikes on Iran, which reduced risk appetite. Bitcoin fell to $64,953, while Ethereum dropped to $1,871. Over $250 million in crypto positions were liquidated. Despite the correction, analysts Ali Martinez and Michaël van de Poppe suggested potential accumulation opportunities, noting Bitcoin's negative Sharpe ratio and maintaining Ethereum's $2,500 target." datetime: "2026-07-24T01:42:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293697628.md) - [en](https://longbridge.com/en/news/293697628.md) - [zh-HK](https://longbridge.com/zh-HK/news/293697628.md) --- # Bitcoin, Ethereum, XRP, Dogecoin Fall as US Strikes on Iran Enter 13th Day: Analyst Says Correction Isn't 'Great' for the Market Leading cryptocurrencies dived alongside stocks on Thursday as elevated Middle East tensions trimmed investors’ risk appetite. **Cryptocurrency** **24-Hour Gains +/-** **Price (Recorded at 9:20 p.m. EDT)** **Bitcoin** (CRYPTO: BTC) \-1.51% $64,953.64 **Ethereum** (CRYPTO: ETH)                 \-3.13% $1,871.30 **XRP** (CRYPTO: XRP)                          \-2.80% $1.10 **Solana** (CRYPTO: SOL)                          \-2.87% $75.89 **Dogecoin** (CRYPTO: DOGE)              \-5.02% $0.06921 ## **Crypto Market** in Red **Bitcoin** fell back to the mid-$64,000s, while **Ethereum** dropped to around $1,800, reversing earlier weekly gains. **XRP** and **Dogecoin** also broke to the downside. Cryptocurrency-related stocks also declined, with **Strategy Inc.** (NASDAQ:MSTR) and **Bitmine Immersion Technologies Inc.** (NYSE:BMNR) closing down 6.38% and -6.48%, respectively.  Over $250 million was liquidated from the cryptocurrency market in the last 24 hours, with $188 million in bullish long positions alone wiped out, according to Coinglass data. Bitcoin’s open interest fell 2.85% over the last 24 hours. A falling open interest with falling prices typically indicates that traders are exiting their long positions rather than new sellers taking over. **Top Gainers (24 Hours)**  **Cryptocurrency (Market Cap\>$100 M)** **Gains +/-** **Price (Recorded at 9:20 p.m. EDT)** **Rootstock Infrastructure Framework** (RIF)       +77.60%     $0.1265 **Audiera** (BEAT)                    +17.16%     $3.03 **Lorenzo Protocol** (BANK)               +15.70%     $0.2936 The global cryptocurrency market capitalization stood at $2.25 trillion, following a dip of 0.59% over the last 24 hours. **Read Also: Bitcoin Outpaces Semiconductor Stocks by 25% as VanEck's Matthew Sigel Sees Path Back to $100,000** ## Stocks Edge Lower Stocks extended the decline on Thursday. The **Dow Jones Industrial Average** fell 506.93 points, or 0.97%, to end at 51,711.65. The **S&P 500** slid 1.21% to 7,408.30, while the tech-heavy **Nasdaq Composite** lost 2.15% to close at 25,137.69 U.S. strikes on Iran entered their 13th consecutive day, while Yemen’s Iran-backed Houthi militia announced a maritime embargo on Saudi Arabia, raising fresh worries about oil exports transiting the Red Sea, another key oil shipping route > U.S. forces started another night of strikes against Iranian military targets at 6:45 p.m. ET today. This is the 13th consecutive night of strikes aimed to hold Iran accountable and diminish threats from the Islamic Revolutionary Guard Corps to commercial shipping. > > — U.S. Central Command (@CENTCOM) July 23, 2026 ## Time to Accumulate? **Ali Martinez**, a widely followed cryptocurrency analyst and trader, noted that Bitcoin’s Sharpe ratio—which measures the reward per unit of risk—has dived into the negative territory, creating an “asymmetric” entry point for long-term investors. “Past instances where the ratio compressed to these levels, such as during the 2015, 2019, and 2022 bear market bottoms, marked final capitulation phases,” the analyst added. > OPTIMAL TIME TO ACCUMULATE BITCOIN > > Bitcoin's Sharpe ratio has dropped to -23, signaling an optimal window for spot accumulation. > > The Sharpe ratio measures the reward per unit of risk, or volatility. A positive ratio indicates returns outweigh risk, while a negative ratio… https://t.co/SxJ0w635qE pic.twitter.com/PVHEAmIDS0 > > — Ali Charts (@alicharts) July 23, 2026 **Michaël van de Poppe**, another prominent cryptocurrency influencer, said that Ethereum’s $2,500 target remains intact, while admitting that the latest correction “isn’t great for the markets.” > The target zone remains intact for $ETH. > > I'm expecting to see $2,500 from here, even though the correction isn't great for the markets. pic.twitter.com/TvQz8sR7Vo > > — Michaël van de Poppe (@CryptoMichNL) July 23, 2026 **Read Also: Strategy, BlackRock, Coinbase, Galaxy Pledge $15M to Protect Bitcoin: Here's Why They're Worried About 2030** _Photo Courtesy: Marc Bruxelle on Shutterstock.com_ ### Related Stocks - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [EZBC.US](https://longbridge.com/en/quote/EZBC.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) - [QETH.US](https://longbridge.com/en/quote/QETH.US.md) - [XRPR.US](https://longbridge.com/en/quote/XRPR.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [TDOG.US](https://longbridge.com/en/quote/TDOG.US.md) - [XRPC.US](https://longbridge.com/en/quote/XRPC.US.md) - [CETH.US](https://longbridge.com/en/quote/CETH.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [ETHV.US](https://longbridge.com/en/quote/ETHV.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [XRPZ.US](https://longbridge.com/en/quote/XRPZ.US.md) - [GDOG.US](https://longbridge.com/en/quote/GDOG.US.md) - [GXRP.US](https://longbridge.com/en/quote/GXRP.US.md) - [EZET.US](https://longbridge.com/en/quote/EZET.US.md) - [FETH.US](https://longbridge.com/en/quote/FETH.US.md) - [ETHW.US](https://longbridge.com/en/quote/ETHW.US.md) - [BWOW.US](https://longbridge.com/en/quote/BWOW.US.md) - [XRP.US](https://longbridge.com/en/quote/XRP.US.md) - [TXXD.US](https://longbridge.com/en/quote/TXXD.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [03008.HK](https://longbridge.com/en/quote/03008.HK.md) - [03042.HK](https://longbridge.com/en/quote/03042.HK.md) - [03430.HK](https://longbridge.com/en/quote/03430.HK.md) - [BTCE.DE](https://longbridge.com/en/quote/BTCE.DE.md) - [BTCHKD.VAHK](https://longbridge.com/en/quote/BTCHKD.VAHK.md) - [BTCUSD.VAHK](https://longbridge.com/en/quote/BTCUSD.VAHK.md) - [ETHHKD.VAHK](https://longbridge.com/en/quote/ETHHKD.VAHK.md) - [ETHUSD.VAHK](https://longbridge.com/en/quote/ETHUSD.VAHK.md) - [DOGEUSD.VAHK](https://longbridge.com/en/quote/DOGEUSD.VAHK.md) - [MSTR.US](https://longbridge.com/en/quote/MSTR.US.md) - [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [STRF.US](https://longbridge.com/en/quote/STRF.US.md) - [STRC.US](https://longbridge.com/en/quote/STRC.US.md) - [STRK.US](https://longbridge.com/en/quote/STRK.US.md) - [STRD.US](https://longbridge.com/en/quote/STRD.US.md) - [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md) ## Related News & Research - [LM Funding America publishes shareholder letter on strategic shift](https://longbridge.com/en/news/293471028.md) - [Canton’s Decentralized App Layer Launches, Backed by $1M+ Foundation Grant](https://longbridge.com/en/news/294055417.md) - [Bybit Launches New DCA Challenge with Up to 55,000 USDT in Rewards for BTC, ETH and XAUT Auto-Investing](https://longbridge.com/en/news/294195061.md) - [Pump.fun token graduation rate jumps after BOOST changes launch incentives](https://longbridge.com/en/news/294246369.md) - [Strive Inc Expands Bitcoin Holdings and Equity Base](https://longbridge.com/en/news/293933555.md)