Dogecoin and HYPE Lead Weekly Crypto Declines as AI Stocks Rebound
Dogecoin and Hyperliquid’s HYPE posted the steepest weekly losses among major cryptocurrencies as bitcoin briefly fell below $60,000. Crypto remained under pressure even as AI-related stocks recovered.
What happened?
Dogecoin and Hyperliquid’s HYPE posted the steepest weekly losses among major cryptocurrencies as bitcoin briefly fell below $60,000. Crypto remained under pressure even as AI-related stocks recovered.
Why it matters
The divergence between crypto and technology shares suggests digital assets are facing market-specific pressure. AI-linked stocks rebounded after Micron issued a stronger-than-expected sales forecast, but that renewed appetite for equities did not extend to crypto.
Dogecoin and Hyperliquid’s HYPE led weekly losses among major cryptocurrencies, falling 11.9% and 11.7%, respectively. Bitcoin dropped to about $59,200 before recovering to roughly $60,700, leaving it down 5.4% over seven days, according to CoinDesk data.
The divergence between crypto and technology shares suggests digital assets are facing market-specific pressure. AI-linked stocks rebounded after Micron issued a stronger-than-expected sales forecast, but that renewed appetite for equities did not extend to crypto.
Other major tokens also declined. Ether lost 7.9% over the week, XRP fell 9.2%, and solana traded near $68. Tron was the exception, gaining 1.9% during the same period.
Analysts cited continued outflows from U.S. spot bitcoin exchange-traded funds, a more hawkish Federal Reserve and a seven-month high for the dollar as factors weighing on the market. A stronger dollar can reduce demand for dollar-denominated risk assets among overseas buyers.
Bitcoin was also trading near its 200-week moving average, a closely watched long-term trend indicator. Upcoming U.S. inflation data could influence the dollar and expectations for Federal Reserve policy, providing the next major test for an already fragile crypto market.