Bitcoin rose above $64,000 on Tuesday, gaining more than 1% over the day and edging slightly higher over the week, while most major cryptocurrencies traded lower.
Ether slipped around 0.5% to below $1,900 but remained nearly 1% higher over seven days. XRP dropped more than 1% to under $1 and has declined over 2% this week, making it the weakest performer among the major tokens. Dogecoin fell close to 0.5% to about $0.07, while BNB and Tron posted small losses near $600 and $0.33. Solana remained largely flat around $76.
Hyperliquid’s HYPE was one of the few major tokens to advance, rising nearly 1% to above $59. It has gained roughly 7.5% over the past week, giving it the strongest seven-day performance among the group.
Alex Kuptsikevich, chief market analyst at FxPro, said Bitcoin has spent four consecutive days below its 50-day moving average after failing to sustain an earlier move above the indicator. BTC also remains below its 200-week moving average, keeping the longer-term outlook under pressure.
Kuptsikevich said the technical picture continues to favor sellers across both medium- and long-term horizons. He added that the trend could remain unchanged until Bitcoin decisively escapes its current $62,000-$65,000 range.
Bitcoin Miners Reduce Computing Power as AI Demand Grows
The Bitcoin mining industry is undergoing a shift as miners increasingly redirect computing resources toward artificial intelligence applications.
Publicly traded miners have reduced their combined computing capacity by 21% over the past three quarters, according to Miner Weekly. The shift has been driven by weaker mining economics and increasing competition from AI companies for electricity and investment.
Venice AI Platform Reaches $100M Revenue
Venice, the AI platform founded by crypto entrepreneur Erik Voorhees, announced that its annualized revenue has surpassed $100 million.
The announcement helped push the VVV token roughly 10% higher, bringing its price to around $13.30.
Oil Climbs as Global Risk Sentiment Weakens
Traditional markets remained under pressure as crude prices advanced and government bond yields moved higher.
Brent crude gained more than 0.5% to above $91 a barrel after President Donald Trump said he was unwilling to extend an agreement with Iran that is approaching its expiration. Renewed clashes in Lebanon also added to geopolitical concerns.
Asian government bonds followed the decline in U.S. Treasuries amid growing worries about public finances. Rising energy costs further fueled concerns over a potential pickup in inflation.
Stocks and equity futures also fell, reflecting a broader defensive shift among investors as geopolitical and inflation risks increased.
