Bitcoin surged to approximately $65,500, reaching its highest level in two weeks as Asian semiconductor shares recovered, reversing last week's selloff that had pressured cryptocurrencies. This rebound contributed to a broad risk-on sentiment across markets.
Market Movements and Institutional Inflows
The largest cryptocurrency advanced 1% on Tuesday and gained 5% over the preceding week, with trading volume around $33 billion. Ether outperformed, climbing 3% to $1,922 and rising 8% over seven days. Other tokens such as XRP increased 3% to $1.13, Solana rose 2% to $78, and BNB remained steady at $574, while dogecoin showed no change. Hyperliquid's HYPE grew 4% to $63 but remains below its weekly price.
The turnaround began in Asian markets where the MSCI Asia Pacific equities index rose 2%, its first gain in four sessions. South Korean and Taiwanese benchmarks each saw approximately 4% increases, while a technology-focused index in mainland China jumped nearly 7%, supported by state-backed institutional buying. Japan's Nikkei recovered 3% after entering a correction last week. Major contributors to the semiconductor rally included Samsung and Taiwan Semiconductor.
Supporting the crypto rally, U.S. spot Bitcoin ETFs attracted inflows for five consecutive days, totaling over $600 million. This marks the strongest series of institutional purchases since mid-July and contrasts with an eight-week outflow trend that ended in late June.
also oil prices retreated slightly, with Brent crude falling 1% to around $88.58 per barrel. This followed reports that Iranian mediators circulated peace proposals aimed at reducing Middle East tensions, including a possible 10-day pause in hostilities.
Jeff Mei, Chief Operating Officer at BTSE, stated that "current Bitcoin and Ether prices are low but fair considering ongoing macroeconomic uncertainties." He emphasized that traders are closely watching the Federal Reserve's upcoming meeting, anticipating steady interest rates but cautious about further developments.
