Asian semiconductor stocks rebounded sharply, ETF inflows extended to a five-day run topping $600 million, and oil prices eased as diplomatic efforts in the Middle East gained traction.
Bitcoin climbed to around $66,100 on Tuesday, its highest level in a month, as last week’s semiconductor-led decline reversed and a rally in Asian chipmakers lifted overall risk sentiment.
The world’s largest cryptocurrency rose 1% on the day and 5% over the week, with trading volumes near $33 billion. Ether again outperformed, reaching $1,922, up 3% on the day and 8% over the past week. XRP gained 3% to $1.13, bringing its weekly advance to 6%, while Solana added 2% to $78. BNB held steady at $574 and Dogecoin was unchanged. Hyperliquid’s HYPE rose 4% to $63, though it remained the only major token still down on the week.
The rebound was led by the same sector that triggered last week’s downturn. MSCI’s Asia Pacific equities index rose 2%, snapping a three-day losing streak, with Samsung and Taiwan Semiconductor driving the gains.
Benchmarks in South Korea and Taiwan each climbed about 4%, while a tech-heavy index in mainland China surged nearly 7% as state-backed buyers stepped in. Japan’s Nikkei rose 3% after slipping into correction territory on Friday. The recent AI-driven selloff in chip stocks has, for now, given way to renewed buying in those same names.
Further support came from institutional demand, with U.S. spot Bitcoin ETFs attracting inflows for five consecutive sessions totaling more than $600 million. This marks the strongest sustained inflow streak since mid-July and a reversal of the eight-week period of outflows that lasted through late June.
Oil prices, which had risen for two days on geopolitical tensions, pulled back. Brent crude fell 1% to about $88.58 after Iran signaled that mediators were circulating proposals to reduce hostilities, including a reported plan for a 10-day pause in strikes.
“Current bitcoin and ether prices are low but fair, given the macro uncertainty across markets,” said Jeff Mei, chief operating officer at BTSE, pointing to the upcoming Federal Reserve meeting as a key driver for traders.
“Markets expect rates to remain unchanged but are looking for clearer signals on policy direction later this year,” Mei added.
Focus now turns to the Federal Reserve’s July 28–29 meeting. Markets currently see about a 15% chance of a rate hike in July, while the possibility of a move in September remains in play.
Despite the price gains, spot trading volumes across crypto markets remained relatively subdued, indicating that the rally is being driven more by improving risk appetite than strong new buying conviction. Elevated oil prices and Treasury yields still pose a risk, as they could keep the Fed cautious and cap further gains in risk assets.
In essence, the same dynamic that shaped markets throughout the month has reversed. Bitcoin fell last week alongside declining Asian chip stocks, and is now rising again as those equities recover.
