Hassan Maishera
TL;DR
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Bitcoin gained more than 1% on Tuesday to trade above $64,000, outperforming other major cryptocurrencies.
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XRP was the weakest large-cap asset, falling below $1 and extending its weekly decline beyond 2%.
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HYPE rose to more than $59, bringing its seven-day gain to 7.5%.
Bitcoin (BTC) rose above $64,000 on Tuesday, gaining more than 1% as most major altcoins traded flat or moved lower.
The leading cryptocurrency was marginally higher over the past seven days and stood out as the only major digital asset to post a meaningful daily gain.
Despite the rebound, Bitcoin remains trapped within a narrow trading range as technical indicators continue to favour sellers.
Bitcoin Outperforms as Major Altcoins Weaken
Ether (ETH) declined approximately 0.5% to trade just below $1,900. However, the second-largest cryptocurrency maintained a weekly gain of almost 1%.
XRP fell more than 1% to below the psychologically important $1 level. The token has declined over 2% during the past week, making it the weakest performer among the major cryptocurrencies covered.
Dogecoin dropped nearly 0.5% to around $0.07, while BNB and Tron posted marginal losses to trade slightly above $600 and $0.33, respectively. Solana remained largely unchanged below $76.
Hyperliquid’s HYPE outperformed the smaller major cryptocurrencies, rising almost 1% to above $59. The token has gained 7.5% over the past seven days, giving it the strongest weekly performance among the group.
FxPro Chief Market Analyst Alex Kuptsikevich said Bitcoin has spent four consecutive days below its 50-day moving average after failing to sustain an earlier breakout.
The cryptocurrency also remains below its 200-week moving average on the longer-term chart. According to Kuptsikevich, this positioning leaves sellers in control of both the medium-term and long-term trends.
Bitcoin has traded within a range between $62,000 and $65,000. A decisive move beyond either boundary may be needed to establish its next directional trend.
A breakout above $65,000 could weaken the bearish technical outlook and support an extended recovery. Conversely, a fall below $62,000 would increase the risk of deeper losses.
Listed Bitcoin Miners Redirect Capacity Toward AI
Bitcoin’s mining sector is undergoing a notable transformation beneath the subdued price action.
Publicly listed miners have reduced their combined computing power by 21% over the past three quarters, according to Miner Weekly. The report attributed the decline to weak mining economics and growing competition from the artificial intelligence industry for capital and electricity.
Several miners have begun repurposing their energy infrastructure and data centres for AI and high-performance computing workloads. These services may offer more predictable returns than Bitcoin mining, particularly when elevated operating costs squeeze mining margins.
The shift could alter the composition of Bitcoin’s network as publicly traded mining companies allocate more resources to AI infrastructure.
Oil Rally Adds to Inflation Concerns
Traditional markets faced renewed pressure as oil prices extended their advance. Brent crude gained more than 0.5% to trade above $91 per barrel after US President Donald Trump said he was not interested in extending the expiring agreement with Iran. Renewed fighting in Lebanon also added to concerns about energy supplies.
Asian bonds followed US Treasuries lower amid worries about government finances. Higher energy prices strengthened concerns that inflation could accelerate, potentially complicating the outlook for interest rates.
Stocks and equity futures declined as investors assessed the combination of geopolitical uncertainty, rising oil prices and persistent inflation risks.
