Hassan Maishera
TL;DR
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Bitcoin rose above $65,000 on Monday and gained nearly 3% over the past week.
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Weak US employment data eased concerns that the Federal Reserve could raise interest rates.
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Solana led the major cryptocurrencies, gaining almost 5% over seven days.
Bitcoin Advances Ahead of US CPI Release
Bitcoin climbed above $65,000 on Monday as improving sentiment across global equity markets supported demand for risk assets.
BTC gained nearly 3% over the previous seven days after Friday’s weaker-than-expected US employment report reduced concerns that the Federal Reserve would need to raise interest rates.
Investors are now turning their attention to July’s US Consumer Price Index data, scheduled for release on Wednesday at 8:30 a.m. Eastern Time. The report could determine whether Bitcoin extends its recovery or comes under renewed selling pressure.
Solana Leads Major Cryptocurrencies
Most large cryptocurrencies recorded weekly gains alongside Bitcoin.
Ethereum traded around $1,919, rising almost 3% over seven days. BNB advanced 0.3% on Monday to approximately $603, matching its weekly gain.
Solana delivered the strongest performance among the major cryptocurrencies. SOL rose 1% during the session to nearly $77 and gained almost 5% over the week.
Tron remained broadly unchanged at approximately $0.33.
Hyperliquid’s HYPE token fell more than 1% to around $54 but retained a weekly gain exceeding 3%. Dogecoin slipped below $0.07.
XRP was the only major cryptocurrency to decline on both a daily and weekly basis.
The token slipped 0.4% to approximately $1.03 on Monday and was down about 4% over the previous seven days.
Its underperformance came despite continued investor interest in XRP exchange-traded funds, suggesting that institutional inflows have yet to translate into stronger price momentum.
Global Equities Support Risk Appetite
Positive equity-market sentiment helped establish a favorable backdrop for cryptocurrencies.
The MSCI All Country World Index rose 0.1%, recording its seventh advance in eight trading sessions. Asian equities gained 0.6% after the weak US jobs report helped push the S&P 500 to a record high on Friday.
Technology stocks led the gains. A regional semiconductor index climbed more than 1.5%, supported by advances in Taiwan Semiconductor Manufacturing Company and SK Hynix.
The strength in chipmakers reinforced broader optimism surrounding technology and artificial intelligence companies, contributing to demand for higher-risk assets.
Conditions in commodity and bond markets were less supportive. Brent crude oil rose 1% to $84.40 per barrel, extending its three-session advance to more than 5%. Prices increased after Iran rejected talks with the United States and efforts to secure an agreement reopening the Strait of Hormuz remained unsuccessful.
Higher energy prices could complicate the inflation outlook by increasing transportation and production costs. That possibility is particularly important ahead of Wednesday’s US inflation report.
US government bonds also surrendered some of Friday’s gains. The 10-year Treasury yield rose one basis point to 4.66%, while the US dollar strengthened against most major currencies.
A stronger dollar and higher bond yields can create pressure on Bitcoin and other risk assets by making dollar-denominated investments more attractive.
Bitcoin Rises Despite Recent Security Incidents
Bitcoin’s recovery occurred despite several technical and security-related incidents affecting its ecosystem over the past ten days.
A fourth wave of wallet sweeps reportedly targeted wallets generated using Coldcard devices.
Separately, a critical vulnerability in BTCPay Server drained funds from merchant Lightning Network nodes on Friday.
The network also experienced disruption connected to the controversial BIP-110 fork. The alternative chain produced two blocks before stalling.
Although these incidents created uncertainty within the Bitcoin ecosystem, broader macroeconomic sentiment remained the primary driver of BTC’s price.
US Inflation Report Could Determine Bitcoin’s Next Move
Wednesday’s CPI release represents the most immediate test for Bitcoin and the wider cryptocurrency market.
Friday’s weak jobs data supported BTC by reducing expectations of further monetary tightening. However, an unexpectedly strong inflation reading could reverse that trend by reviving the possibility of higher interest rates.
A softer inflation report would likely reinforce expectations that the Federal Reserve can maintain or ease its current policy stance, potentially supporting Bitcoin and other risk assets.
Conversely, persistent inflation—especially if driven by rising energy prices—could lift Treasury yields and the dollar, placing renewed pressure on the cryptocurrency market.
