Ethereum generated $1,538 over the past week as Robinhood's platform experienced significant growth and Coinbase announced a corporate reorganization. Bitcoin approached the $65,000 resistance early in the week before retreating alongside equities, currently testing the $62,000 support level.

Market watchers are keeping an eye on Bitcoin’s monthly close with levels above $61,000 viewed positively, while a drop below could signal caution. Equity markets are facing a sharp unwind of momentum and AI-driven trades, impacted by leveraged positions and weakening AI fundamentals. Kimi-K3 has outperformed Claude's Fable 5 in some tests at a fraction of the cost, challenging companies focused on frontier AI models.

Options activity shows a heavy accumulation of 25-delta calls on the S&P 500, with the put/call ratio indicating complacency in the stock market. Meanwhile, SpaceX's SPCX stock has fallen below its $135 IPO price, recently trading under $140.

Macro and Crypto Market Sentiment

On the macroeconomic front, experts Ram Ahluwalia and Chris Perkins argue that markets are incorrectly pricing in a US interest rate hike. Analyst Luke Gromen sees zero probability of hawkish moves from Fed officials Bessent and Warsh, warning that such actions would destabilize the US fiscal position. Brent Johnson interprets recent policy decisions as deliberate despite their apparent risks.

Despite weakness in equities, the crypto market shows signs of stabilization. Analyst Pentoshi describes this bear market as the gentlest in crypto history. Galaxy's Alex Thorn notes an increasing number of bottoming signals, while Chris Burniske draws parallels to 2015 when most traders grew impatient but those remaining were eventually rewarded. Even trader Horse senses a subtle revival in the space.

Sentiment varies in quality; Chamath Palihapitiya recently focused on privacy coins, which have been among the few tokens gaining during the current crypto winter. Previously, he highlighted Solana before reducing his position.

Strategy increased its USD reserves by $450 million through the sale of approximately $467 million in MicroStrategy (MSTR) stock, with no Bitcoin transactions occurring during this period.