Bitcoin traded near $63,000 on July 9, 2026, holding up despite fresh US-Iran airstrikes and a halt to shipping through the Strait of Hormuz. That’s the headline price move. The more interesting story is underneath it: the wave of crypto companies that went public over the past year are trading nowhere close to where they debuted, and one of them has lost 89 percent of its value.
| BTC Price (July 9)~$63,000 | ETH Price (July 9)~$1,740 | ETF Inflows (July 8)+$221.7 million | Worst Crypto IPO YTDGemini, -89% |
What’s Actually Happening With Bitcoin Today
Bitcoin opened at roughly $62,200 on July 9 and climbed through the day, trading between $62,700 and $63,200 depending on the exact hour checked. That’s a modest gain, but a meaningful one given the backdrop. The US and Iran exchanged airstrikes for a second straight day, and shipping traffic through the Strait of Hormuz has largely ground to a halt, reviving the same inflation concerns that weighed on markets back in June.
Ethereum traded around $1,740 to $1,746, essentially flat on the day. Solana sat near $77 to $78, still up close to 20 percent over the past month despite struggling to hold above the $80 mark.
The more useful signal came from ETF flows. US spot Bitcoin ETFs snapped a 10-day losing streak on July 8, pulling in $221.7 million, their strongest single day in two months, following what several outlets called the worst month on record for these funds in June. Reports that a CLARITY Act draft could reach the Senate floor as soon as this month, a story Robius has been tracking closely, also supported sentiment.
The Story Bitcoin’s Price Doesn’t Tell You
Bitcoin’s relative stability this week masks something happening one level up, in the stock market, where crypto-native companies that went public over the past year are trading far below where they started.
| Company | Ticker | IPO Price / Date | Price as of July 7 |
| Gemini Space Station | GEMI | $37 (Sept. 2025) | $4.19, down 89% |
| BitGo Holdings | BTGO | $22.43 (Jan. 2026) | Down 77% |
| Bullish | BLSH | $90 (Aug. 2025) | Down ~71% |
| eToro Group | ETOR | May 2025 debut | Down 42% |
| Figure Technology Solutions | FIGR | Sept. 2025 debut | Down 14% |
| Circle Internet Group | CRCL | June 2025 debut | Down 6% |
Every single name on that list is trading below its opening price. Not one has held its debut valuation, let alone grown into it. Gemini’s collapse is the most dramatic, from $37 a share down to just over $4, but the pattern across the whole group is what makes this a real trend rather than one company’s bad luck.
Why This Is Happening
Part of the answer is simple timing. Several of these companies priced their IPOs during 2025’s crypto enthusiasm, a period that included bitcoin’s all-time high of $126,198 in October 2025. Bitcoin has since fallen by roughly half from that peak, and 2026 has been a genuinely rough year for the asset, its worst monthly performance in years came in June alone.
But the scale of these declines, several multiples worse than bitcoin’s own drawdown, suggests something more specific is going on too. Newly public companies with limited trading histories tend to see far more volatile repricing than the underlying asset they’re built around, especially once early enthusiasm fades and investors start scrutinizing actual revenue, regulatory exposure, and competitive position rather than just riding a sector-wide narrative.
| Distinguish between a temporary price relief rally and a genuine cycle recovery. Utkarsh Ahuja, Moon Pursuit Capital. |
What This Means for the UAE
Two of the six names on this list matter directly for UAE readers. eToro, down 42% from its debut, is a platform Robius has covered in our forex and trading review coverage, and it remains widely used by UAE-based retail investors for both crypto and equities exposure. Circle, the most resilient of the group at only 6% below its debut price, holds a Financial Services Permission licence from Abu Dhabi Global Market’s regulator, making it directly relevant to the UAE’s own stablecoin and digital asset infrastructure.
The broader lesson applies just as directly here. A crypto company’s stock price and the underlying token or coin it’s built around can move in completely different directions, on completely different timelines. UAE investors holding shares in any crypto-adjacent public company, rather than the crypto itself, are exposed to a distinct set of risks: execution risk, regulatory risk, and plain market sentiment toward newly listed companies, on top of whatever bitcoin or ethereum happen to be doing that day.
| The honest takeaway: bitcoin holding near $63,000 despite renewed Middle East tensions is a genuinely resilient signal. But if you’re invested in the companies built around crypto rather than the coins themselves, today’s calm bitcoin price tells you almost nothing about how your actual position is performing. |
Sources
- Investing News Network: Crypto Market Update — Regulation Crypto Agenda Slated for July (July 9, 2026) — https://investingnews.com/cryptocurrency-market-recap/
- Fortune: Current Price of Bitcoin for July 9, 2026 — https://fortune.com/article/price-of-bitcoin-07-09-2026/
- Fortune: Current Price of Ethereum for July 9, 2026 — https://fortune.com/article/price-of-ethereum-07-09-2026/
Karikari Daniel
I am an avid crypto and blockchain content writer with over 3-years of experience. I am open to writing your PR, blog, news articles, and other crypto-related content anytime.
