CoinDesk
Ether led major cryptocurrencies higher over the past week, rising about 12% as bitcoin steadied above $63,000 and reclaimed the ground it lost in late June. Bitcoin traded near $63,207, little changed on the day but up 5.5% over seven days, while ether reached about $1,777, up 12.4% on the week, according to CoinDesk data. BNB and dogecoin each gained roughly 5.5%, Solana added 11.2% to trade near $80.77, XRP climbed 9.4% to $1.14, and Hyperliquid's HYPE led the majors with a 14.6% weekly rise.
Why it matters
Crypto held firm even as the AI- and chip-driven stock rally lost momentum, breaking a pattern that has defined the past quarter. For most of that period, money rotated out of tokens and into semiconductor and technology shares, and cracks in the AI trade tended to drag the crypto market down with the rest of risk. That the two decoupled this week is a shift worth watching: it suggests crypto is no longer trading purely as a high-beta proxy for chip stocks and is finding some independent bid.
The backdrop, however, remains cautious. South Korea's Kospi fell 1.4% as Samsung Electronics and SK Hynix declined, and an MSCI gauge of Asian chipmakers slipped. A stronger dollar against all its major peers kept pressure on risk assets, while Brent crude eased 0.6% to about $71.70 a barrel ahead of U.S. inflation data due later this month.
Market impact
Traders are reading bitcoin's hold above $63,000 as the recovery's first real sign of staying power, with ether's outperformance reinforcing the picture of a market stabilizing rather than rolling over. The next move is likely to hinge on the inflation print and whether majors can hold up as U.S. trading returns to full volume next week. A still-strong dollar and an uncertain AI trade leave crypto without a clear catalyst to push higher, but the failure to sell off alongside chip stocks is itself a signal that the bid is starting to look more durable than reactive.
Frequently asked questions
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Why did ether outperform bitcoin last week?
Ether rose about 12% over the week to roughly $1,777, while bitcoin gained 5.5% to near $63,207. The seed does not pin down a single catalyst, but ether's outperformance came as the broader crypto market stabilized and reclaimed late-June losses.
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Did crypto sell off when AI and chip stocks wobbled?
No. Crypto held firm even as the AI- and chip-driven stock rally lost momentum, breaking the quarter-long pattern of capital rotating out of tokens and into semiconductor and tech shares. The two asset classes decoupled for the week.
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What level is bitcoin holding above and why does it matter?
Bitcoin is trading around $63,207, above the $63,000 level traders are watching. Holding that level is being read as the recovery's first real sign of staying power after bitcoin reclaimed the ground it lost in late June.
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How does the stronger dollar affect crypto right now?
The dollar strengthened against all its major peers, a headwind for crypto that has tracked the currency's moves through the past quarter. A firm dollar typically pressures risk assets by tightening global liquidity conditions.
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What is the next catalyst for crypto prices?
Traders are pointing to upcoming U.S. inflation data later this month, alongside whether the majors can hold up as U.S. trading returns to full volume. The seed notes crypto lacks a clear catalyst to push higher without those inputs.
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