Bitcoin moved back above $64,000 on Tuesday, rising more than 1% over the past 24 hours and posting a modest weekly gain. It was the strongest performer among major cryptocurrencies as most other large-cap tokens declined.
Ether slipped roughly 0.5% to below $1,900, although it remains nearly 1% higher over the past week. XRP fell more than 1% to below $1 and has lost over 2% in seven days, making it the weakest major token. Dogecoin declined nearly 0.5% to about $0.07, while BNB and Tron edged down to slightly above $600 and $0.33, respectively. Solana was little changed around $76.
Hyperliquid’s HYPE bucked the broader trend among smaller major tokens, gaining nearly 1% to above $59. The token has advanced around 7.5% over the past seven days, giving it the strongest weekly performance among the group.
Alex Kuptsikevich, chief market analyst at FxPro, said Bitcoin has remained below its 50-day moving average for four straight days following an earlier attempt to reclaim the level. BTC is also trading below its 200-week moving average, indicating continued weakness from a longer-term perspective.
Kuptsikevich said these indicators suggest sellers remain in control across both medium- and long-term time frames. In his view, the trend is unlikely to shift until Bitcoin breaks decisively out of its $62,000-$65,000 trading range.
Bitcoin Miners Shift Computing Power Toward AI
Bitcoin’s network is also undergoing a structural shift as miners redirect computing resources toward artificial intelligence infrastructure.
According to Miner Weekly, publicly listed Bitcoin mining companies have reduced their combined computing capacity by 21% over the past three quarters. The decline reflects weaker mining economics and increasing competition from AI companies for both electricity and investment capital.
Venice Crosses $100M Revenue Mark
Venice, an AI platform founded by crypto entrepreneur Erik Voorhees, reported that its annualized revenue has exceeded $100 million.
Following the announcement, Venice’s VVV token jumped around 10% to approximately $13.30.
Oil Prices Rise as Markets Turn More Defensive
Risk sentiment across traditional markets remained weak, with oil prices moving higher and government bonds coming under pressure.
Brent crude gained more than 0.5% to above $91 a barrel after President Donald Trump said he was not interested in extending an agreement with Iran that is nearing expiration. Renewed fighting in Lebanon added to concerns about geopolitical instability.
Asian bond markets followed the decline in U.S. Treasuries as investors raised concerns about government finances. Higher energy prices also increased fears that inflation could accelerate.
Equities and futures declined as investors responded to the combination of rising energy costs, higher yields and renewed geopolitical uncertainty.
