Bitcoin crossed $64,000 in Asian morning hours Monday, up half a percent on the day but down almost 3% over the week, as a softer dollar and fading rate-hike bets failed to lift crypto out of its recent range.
Hyperliquid's HYPE was the standout, up over 3% to $59 and almost 9% on the week, the only major with a meaningful weekly gain. Ether rose over 1% to just under $1,900 but is down 1% over seven days.
Dogecoin added almost 1% to 7 cents, tron under half a percent to just over 33 cents and XRP marginally to $1, though XRP is down 3% on the week. Solana edged up to just over $75 and is down almost 2% over seven days. BNB slipped marginally to just over $604 and was flat on the week.
The macro backdrop turned friendlier without moving crypto. A Bloomberg gauge of the dollar slipped 0.1% toward a third straight decline and levels last seen in May, while MSCI's emerging-market currency index hit an intraday record, led by the Taiwanese dollar and Thai baht.
That followed U.S. retail sales figures on Friday showing the sharpest monthly drop in more than a year as consumers pulled back. Swaps traders now put the chance of a Federal Reserve rate rise next month at around one in four, down from about 50% a week ago, and Treasuries rose across the curve.
Nick Ruck, director of LVRG Research, told CoinDesk the market remains stalled near $63,000 with fading exchange-traded fund inflows showing a lack of optimism after last week's selloff.
“Key catalysts to watch this week include the release of the FOMC minutes and any developments from the anticipated White House crypto meeting, both of which could provide clearer signals on the regulatory and monetary policy landscape,” Ruck said.
Those minutes, from the Fed's July 28-29 meeting, are due Wednesday at 2 p.m. ET. They will show how close the committee came to raising rates before last week's data pushed those odds down.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.
