Bitcoin climbed back above 64,600 on Thursday, up just 0.5% for the week but showing signs of stability after dipping toward 62,500 on Monday. The recovery signals optimism centered squarely on the token itself rather than the broader crypto market, according to FxPro analyst Alex Kuptsikevich, who noted buyers stepped in at the dip and pushed price back above the 50-day moving average. This kind of selective strength typically marks the early phase of a longer shift.
The rest of the major tokens offered mixed signals. Ether rose over 1% to 1,904 but remains 0.7% down on the week. XRP fell almost 3% to 1.04, making it the weakest performer in the group. BNB slipped over 1% to 595, though it's still up 3.5% over seven days. Solana and dogecoin both fell roughly 1% to near 74 and 7 cents respectively. Hyperliquid's HYPE, meanwhile, posted the strongest weekly gain among major tokens at over 4%, sitting steady around 56.
Attention also swung toward Elon Musk's SpaceX Thursday, as roughly 101 billion dollars worth of company stock became tradable following the first lockup expiration. SpaceX holds 18,712 bitcoin worth approximately 1.1 billion at June prices, making the unlock a potential variable for traders watching both equities and crypto markets.
Global risk appetite softened as the MSCI All Country World Index snapped a five-day winning streak, falling 0.2% as chipmakers retreated across markets. Korea's Kospi dropped 4.4%, a key barometer for the AI trade, with SK Hynix and Samsung leading the losses. Ether's struggle mirrors broader weakness in the semiconductor space even as gold climbed 0.4% to its strongest level in weeks, buoyed by reduced rate-hike expectations. S&P 500 and European futures edged slightly higher, keeping the equity backdrop mixed at best.
This is an informational report and not investment advice. Crypto markets remain highly volatile and subject to sudden moves.
