Crypto lags stocks' 9-week rally as ETF inflows cool!

Bitcoin slipped 2.6% over the past seven days to $73,445, ether fell 2.5% to $2,011, and SOL dropped 2.2% to $82.42 — all underperforming a stock market that just logged its longest weekly winning streak since 2023. The S&P 500 is up nearly 20% from its March lows, and Brent crude settled near $92 on U.S.-Iran ceasefire optimism. Crypto did not move with the tape.

The divergence is being driven in part by cooling spot bitcoin ETF inflows, which had been a structural bid for BTC through much of the year. With that demand softening, large-cap tokens are losing a key support layer even as traditional risk assets rally.

The one bright spot was Hyperliquid's HYPE, which surged 19.4% to $65 after Intercontinental Exchange CEO Jeffrey Sprecher called the decentralized perps venue "bigger than NASDAQ" at a Bernstein conference. BNB added 1.9% and XRP eked out a 0.7% gain.