Most major cryptocurrencies are trading higher over the past week, with XRP as the lone exception. Bitcoin, ether and BNB have each gained nearly 3% as global equity markets remain close to record highs.
Bitcoin climbed above $65,000 on Monday, extending its weekly advance to almost 3%. Traders are now focused on July’s U.S. inflation figures, due Wednesday at 8:30 a.m. ET. Last week’s weaker jobs report eased expectations that the Federal Reserve would need to raise interest rates.
Ether was near $1,919, up almost 3% over seven days, while BNB added 0.3% to $603 and matched that weekly gain. Solana led the major tokens, rising 1% on the day to nearly $77 and almost 5% over the week. Tron was little changed at about 33 cents.
XRP was the only major cryptocurrency in negative territory on both the daily and weekly charts. It slipped 0.4% to $1.03 and has fallen roughly 4% over the past seven days. Hyperliquid’s HYPE declined more than 1% to $54 but remains up over 3% for the week. Dogecoin also edged lower, falling below 7 cents.
Global equities continued to provide a favorable backdrop. The MSCI All Country World Index gained 0.1%, marking its seventh increase in eight sessions, while an Asian equity benchmark rose 0.6%. Friday’s weak U.S. employment data helped lift the S&P 500 to a record high.
Semiconductor stocks were among the strongest performers. A regional chip index advanced more than 1.5%, supported by gains in Taiwan Semiconductor and SK Hynix.
Oil markets moved higher as geopolitical tensions persisted. Brent crude rose 1% to $84.40 a barrel, extending its three-session rally to more than 5%. The gain came after Iran rejected talks with the U.S., while efforts to reopen the Strait of Hormuz remained unresolved. U.S. Treasury yields also edged higher, with the 10-year yield gaining one basis point to 4.66%, while the dollar strengthened against most major currencies.
Bitcoin has advanced despite a string of negative developments in the crypto sector. Over the past 10 days, Coldcard-generated wallets have faced another wave of sweeps, a critical BTCPay Server vulnerability drained merchant Lightning nodes, and the BIP-110 dispute triggered a chain split that produced two blocks before stalling.
The next key catalyst is Wednesday’s U.S. consumer inflation report. Weak employment data recently supported bitcoin by reducing rate-hike expectations, but a hotter inflation reading could reverse that trend by bringing higher-rate concerns back into focus.
