Bitcoin climbs above $64,000 while most majors slip
- Bitcoin climbed above $64,000 and was the only major cryptocurrency with a notable daily gain, while most other large tokens slipped or were flat.
- Analysts said bitcoin remains stuck between $62,000 and $65,000 and below key moving averages, leaving sellers in control of medium- and long-term trends.
- Publicly listed bitcoin miners have cut computing power by 21 percent over three quarters as they shift capacity to AI, even as AI platform Venice reported more than $100 million in annualized revenue and a jump in its VVV token.
- Oil prices rose above $91 a barrel after President Donald Trump signaled he would not extend an agreement with Iran and fighting intensified in Lebanon, pressuring bonds and stocks amid renewed inflation worries.
Bitcoin rose above $64,000 on Tuesday, up over 1% on the day and marginally higher on the week, the only major with a meaningful gain as the rest of the market drifted lower.
Ether eased half a percent to just under $1,900, though it holds an almost 1% weekly gain. XRP fell over 1% to just under $1 and is down over 2% on the week, the weakest of the group. Dogecoin dropped almost half a percent to 7 cents, BNB and tron both slipped marginally to just over $600 and 33 cents, and solana was flat at just under $76.
Hyperliquid's HYPE was the exception among the smaller majors, up almost 1% to just over $59 and 7.5% over seven days, by far the strongest weekly performance.
Alex Kuptsikevich, chief market analyst at FxPro, said bitcoin has now spent four days below its 50-day moving average after an earlier attempt to break above it, and remains below its 200-week average on the longer view. That puts sellers in control on both the medium and very long-term trends, he said, and nothing changes until the price leaves the $62,000 to $65,000 range it has been stuck in.