Most leading cryptocurrencies are higher over the past week, with XRP the notable exception. Bitcoin, ether and BNB have all gained close to 3% as global stock markets continue to hover near record levels.
Bitcoin moved above $65,000 on Monday, bringing its seven-day gain to nearly 3%. Attention is now shifting to July’s U.S. inflation report, which is due Wednesday at 8:30 a.m. ET. A weaker-than-expected jobs report last Friday reduced expectations that the Federal Reserve would need to raise interest rates.
Ether was trading around $1,919, also up almost 3% over the week. BNB rose 0.3% to $603, putting its weekly gain at roughly the same level. Solana outperformed other major tokens, gaining 1% on the day to approach $77 and rising nearly 5% over the past seven days. Tron remained unchanged at about 33 cents.
XRP was the only major cryptocurrency to post losses across both the daily and weekly time frames. The token fell 0.4% to $1.03 and is down roughly 4% for the week. Hyperliquid’s HYPE dropped more than 1% to $54 but remains up over 3% on the week, while dogecoin slipped below 7 cents.
Stocks continued to set the broader market tone. The MSCI All Country World Index added 0.1%, recording its seventh positive session in the past eight. The Asian equity index climbed 0.6% after Friday’s weak U.S. employment figures helped drive the S&P 500 to a fresh record.
Chip stocks were among the strongest performers, with a regional semiconductor index rising more than 1.5% as shares of Taiwan Semiconductor and SK Hynix advanced.
Oil prices bucked the broader trend. Brent crude climbed 1% to $84.40 a barrel, extending its gain to more than 5% across three sessions. The move came after Iran rejected negotiations with the U.S., while an agreement to reopen the Strait of Hormuz remained elusive. Treasury yields also edged higher, with the 10-year yield rising one basis point to 4.66%, while the dollar strengthened against most major currencies.
Bitcoin’s gains have come despite a series of setbacks within the crypto industry. In the past 10 days, Coldcard-generated wallets have faced another wave of sweeps, a critical BTCPay Server vulnerability drained merchant Lightning nodes, and the controversial BIP-110 proposal triggered a chain split that produced two blocks before activity stalled.
The next major market test will be the U.S. consumer price report. Bitcoin benefited from Friday’s weak jobs data, but a stronger-than-expected inflation reading could revive expectations for higher interest rates and potentially erase some of those gains.
