Bitcoin Holds Above $63K as Ether Outpaces Major Cryptocurrencies in Weekly Gains
Bitcoin started the week on stable footing, holding above the $63,000 mark after recovering from its late-June weakness, while Ether emerged as the strongest performer among the largest cryptocurrencies. The market's resilience comes even as global financial markets face renewed uncertainty from technology stocks and a stronger U.S. dollar.
At the time of writing, Bitcoin (BTC) traded near $63,200, posting a weekly gain of roughly 5.5%. Although the world's largest cryptocurrency remained relatively flat on the day, its steady recovery has brought prices to their highest level in over a month.
Ether (ETH) outpaced its peers with an impressive 12.4% weekly increase, climbing to approximately $1,777. The second-largest cryptocurrency continued to attract momentum as investors rotated back into digital assets after June's pullback.
Other leading cryptocurrencies also posted notable gains throughout the week. Solana (SOL) advanced around 11.2% to trade near $80.77, while XRP rose 9.4% to roughly $1.14. BNB and Dogecoin each recorded gains of about 5.5%, while Hyperliquid's HYPE token led the major digital assets with a weekly surge of nearly 14.6%.
The crypto market's strength stood out against a more cautious backdrop in traditional financial markets. Technology and semiconductor stocks, which have fueled much of this year's equity rally, lost momentum as investors questioned whether the artificial intelligence-driven boom could continue at its recent pace.
Asian markets reflected the shift in sentiment, with South Korea's benchmark Kospi index falling 1.4% after declines in major chipmakers Samsung Electronics and SK Hynix. A broader index tracking Asian semiconductor companies also moved lower, highlighting the pressure on the technology sector.
Meanwhile, Brent crude oil slipped about 0.6% to roughly $71.70 per barrel, providing some relief from inflation concerns ahead of the upcoming U.S. consumer price data. However, the U.S. dollar strengthened against other major currencies, creating a traditional headwind for cryptocurrencies, which have often moved inversely to the greenback in recent months.
One of the more notable developments has been crypto's ability to remain resilient even as AI-related stocks weakened. Throughout much of the previous quarter, investor capital had largely shifted away from digital assets and into artificial intelligence and semiconductor companies. As those sectors begin to lose momentum, market participants are watching closely to see whether cryptocurrencies can continue attracting fresh investment.
Looking ahead, traders are expected to focus on upcoming U.S. inflation data, which could shape expectations for monetary policy and influence risk assets across the board. Bitcoin's ability to maintain support above $63,000 may strengthen confidence that its recent rebound has staying power, although a firm U.S. dollar and lingering uncertainty surrounding global markets could limit further upside until a stronger catalyst emerges.