Hyperliquid's HYPE token fell 10% to $60 U.S. on July 17, leading a broad decline in cryptocurrencies amid a global stock market rout. Bitcoin slipped more than 1% to $63,000 U.S., Ethereum dropped 3% to $1,830 U.S., and Solana and XRP each lost about 1%. The selloff coincided with a sharp correction in artificial-intelligence-related stocks, with the Nasdaq Composite down over 300 points as semiconductor shares tumbled. Rising oil prices added pressure, with Brent crude up nearly 3% to above $86 U.S. a barrel after a 30% surge over the past 10 days driven by renewed U.S.-Iran fighting. HYPE's weekly decline reached 12%, its steepest since June, though it remains one of the year's top performers in a down market.