Bitcoin could extend its decline and drop to as low as $55,000 before finding a bottom, analysts at 10x Research said. The firm points to a stronger U.S. dollar and expectations of a more hawkish Federal Reserve as key headwinds. It added that several indicators suggest a potential low could form between late August and October.

As the broader crypto market slipped, Hyperliquid (HYPE), Uniswap (UNI) and Worldcoin (WLD) stood out with double-digit gains. Traders have been gravitating toward themes tied to onchain trading, decentralized finance and artificial intelligence. The moves have drawn fresh investor interest in these segments even as most major tokens drifted lower.

Binance Wallet, Bybit and Bitget canceled SpaceX pre-IPO tokenized-share offers on Friday and issued refunds after xStocks could not obtain the underlying shares. Retail demand reportedly overwhelmed available allocations, with Bloomberg citing over $100 billion in retail orders and xStocks partners said to have collected more than $1 billion in customer interest. The episode highlighted that token issuance can function as designed, but sourcing and holding the real shares within required frameworks can still be the limiting factor.