Circle has launched cirBTC on Ethereum, introducing a wrapped Bitcoin token backed 1:1 by BTC and supported by onchain reserve verification through Chainlink Proof of Reserve.

According to Circle, cirBTC is now live on Ethereum and is designed to bring Bitcoin-backed collateral into institutional decentralized finance markets. 

In its June 8 announcement, the company said each cirBTC token is backed by an equivalent amount of native Bitcoin held in custody by a regulated Circle entity, with the assets kept separate from Circle’s corporate holdings.

Built for institutions active in lending, market making, treasury management, over-the-counter trading, and settlement, cirBTC allows firms to use Bitcoin as collateral within Ethereum-based smart contract ecosystems without selling the underlying BTC, according to Circle. The company said native Bitcoin can remain in custody while cirBTC moves through onchain financial applications.

Circle added that reserve transparency is provided through Chainlink Proof of Reserve, allowing counterparties to verify backing through multiple wallet addresses visible on the Bitcoin blockchain. According to the company, the system is intended to give trading firms, protocols, and risk teams continuous visibility into reserve holdings.

Circle enters a competitive wrapped Bitcoin market

Following the Ethereum launch, Circle has formally entered a market already populated by several wrapped Bitcoin providers.

When the company first announced cirBTC in April, Circle described the token as a secure and neutral wrapped Bitcoin product for institutional participants. At that time, it said the asset would launch on Ethereum and later become available through Arc, Circle’s layer-1 blockchain infrastructure.

Existing wrapped Bitcoin products already serve a large portion of the market. BitGo-issued Wrapped Bitcoin remains the largest product in the category with an approximately $8 billion market capitalization, while Coinbase Wrapped Bitcoin reached about $5.9 billion after its September 2024 launch, according to Circle’s earlier announcement. Other exchange-backed offerings include Kraken Wrapped BTC, Binance Wrapped BTC, Bitget Wrapped BTC, and OKX Wrapped BTC.

Circle said its business model differs from some competitors because it does not operate a centralized exchange, decentralized exchange, or lending protocol. The company stated that this structure allows institutions to use cirBTC across different trading venues, client relationships, and liquidity networks without concerns about competing with the issuer.

Integration with Circle Mint and Arc

Alongside the launch, Circle said cirBTC can be minted and redeemed through Circle Mint, its institutional platform for managing digital asset liquidity, adding that combining cirBTC with USDC creates a framework where Bitcoin collateral and dollar-denominated liquidity can operate within the same workflow.

Ethereum was selected as the first network because many institutional DeFi, tokenization, and liquidity activities already take place there, according to Circle. Looking ahead, the company said cirBTC is being designed to expand beyond Ethereum through Arc as part of a multichain strategy focused on interoperable financial infrastructure.

Future Arc integration will extend access to wrapped Bitcoin collateral across additional blockchain environments while maintaining the same custody and verification standards.

Key takeaways

• XRP climbed to around $1.15 on Monday as retail traders cautiously returned to the derivatives market.
• XRP futures open interest increased from $2.28 billion to $2.44 billion, signaling renewed speculative activity.

Ripple (XRP) edged higher on Monday, trading around $1.15 as risk appetite showed tentative signs of recovery across the cryptocurrency market. While broader sentiment remains fragile, derivatives data suggest retail traders are gradually returning to the market after weeks of caution.

The modest recovery comes amid a challenging macroeconomic backdrop and renewed geopolitical tensions that continue to weigh on investor confidence.

Geopolitical risks keep investors on edge

Risk-off sentiment remains the dominant market theme as digital assets struggle to sustain gains following a brief rebound over the weekend. Investor caution intensified after Israel and Iran exchanged strikes for the first time since the ceasefire agreement reached on April 8.

Despite the cautious environment, XRP derivatives activity recorded a modest increase. Open Interest (OI) in XRP perpetual futures rose to an average of $2.44 billion on Monday, up from $2.28 billion previously. The increase suggests traders are gradually re-entering the market and taking on additional exposure, even as uncertainty remains elevated.

The rise in futures positioning points to renewed speculative interest, although the increase remains relatively modest compared to previous bullish periods.

Ripple price forecast: XRP faces heavy technical resistance

Although XRP has managed to rebound toward $1.15, the broader technical picture remains bearish.

The token continues to trade below its key moving averages, including the 50-day EMA at $1.33, 100-day EMA at $1.41, and the 200-day EMA at $1.63

These levels create a significant overhead resistance zone that could limit upside momentum.

Additional bearish signals come from the SuperTrend indicator, which remains negative around $1.26, and a descending trendline whose breakout point is located near $1.52. Together, these indicators suggest that rallies may continue to encounter selling pressure.

Technical momentum indicators continue to favor the bears. The Relative Strength Index (RSI) is hovering near 32 on the daily chart, reflecting weak buying momentum despite the recent bounce. 

Meanwhile, the Moving Average Convergence Divergence (MACD) histogram remains below the zero line, reinforcing the prevailing bearish trend.

These indicators suggest that downside risks remain elevated unless XRP can reclaim key resistance levels.

While XRP has shown resilience by reclaiming the $1.15 level, the token remains trapped within a broader bearish structure. Improving derivatives activity and continued ETF inflows offer encouraging signs, but weak market sentiment and persistent geopolitical uncertainty continue to cap upside potential.

For a stronger recovery to develop, XRP will need to overcome multiple resistance barriers while broader risk appetite across the crypto market improves. Until then, traders remain focused on whether support around $1.05 and the critical $1.00 threshold can withstand further selling pressure.

Yuga Labs has rescued about $570,000 worth of NFTs after an exploit affected Floor Protocol on Sunday. The team behind Bored Ape Yacht Club said the operation removed exposed assets before another actor could drain them.

• Yuga Labs rescued about $570,000 worth of NFTs after a Floor Protocol exploit exposed vulnerable pools.
• The whitehat operation secured 29 Bored Apes and two CryptoPunks before another actor could drain them.
• Yuga Labs currently holds the rescued NFTs while coordinating with Floor Protocol developers on returns.

The rescued items included 29 Bored Apes and two CryptoPunks, among other NFTs. Yuga Labs said it now holds the assets while working on a return process.

Yuga Labs moves exposed NFTs from pools

According to Yuga Labs vice president of Blockchain 0xQuit, the team found the exploit after reviewing Floor Protocol activity. Floor Protocol had stopped operations last year, but some NFT pools still contained assets. The platform previously allowed users to deposit NFTs into pools and receive fungible μTokens. Users could then trade those tokens or burn them to redeem the underlying NFT. The Sunday exploit created a path to drain those pools.

0xQuit said the team found another exploit route after deeper review. “After digging deeper, we found another related exploit path,” 0xQuit wrote on X. The post said the route could affect more vulnerable Flooring pools. Yuga Labs then moved exposed NFTs from those pools before another exploit attempt. The team described the action as a whitehat operation.

The rescued assets included high-value Ethereum NFT collections. Yuga Labs said it acted to protect Bored Apes and other exposed items. The operation also covered two CryptoPunks, according to the provided report. The team now maintains control of the NFTs. It plans to coordinate with Floor Protocol developers on the next steps.

Floor Protocol exploit involved μToken balances

Floor Protocol used a liquidity model tied to deposited NFTs and μTokens. The system allowed users to gain liquidity without directly selling their NFTs. However, the exploit reportedly targeted the relationship between wrapped Ethereum and μToken balances. According to 0xQuit, attackers could turn a small amount of wETH into a nearly unlimited μToken balance. That balance could then help drain NFTs from affected pools.

Yuga Labs said its goal involved removing exposed assets before another party used the same method. 0xQuit wrote that the team wanted to extract vulnerable NFTs first. The post said another malicious actor could have used the same paths. The team therefore moved the assets to stop further losses. Yuga Labs did not say the owners had already received the NFTs back.

Yuga Labs CEO Michael Figge also commented on the response. “Thanks to this move, we were able to save dozens of assets,” Figge wrote on X. He said the action prevented market impact and protected Flooring protocol tokens. The company’s statements framed the move as a recovery effort. Floor Protocol developers still need to help settle ownership and return issues.

NFT market remains below 2022 levels

The rescue took place after a long decline in NFT trading activity. Bored Apes traded above $300,000 during the market peak in early 2022. At that time, Ethereum NFT daily sales often topped $100 million, according to CryptoSlam data. 

In 2026, the highest daily sales volume reached $32.3 million. The figures show a much smaller market than the 2022 peak. The Floor Protocol incident involved assets from a platform that no longer operates actively. Even so, remaining pools still carried exposure to smart contract risks. Yuga Labs said it acted after finding the exploit route on Sunday morning. The team continues to hold the rescued NFTs while seeking a return plan. The next step depends on coordination with Floor Protocol developers.

Bitcoin’s fall toward $60,000 has not caused a broad retreat among large investors, according to Coinbase Institutional strategy head John D’Agostino. 

He said family offices, governments, and sovereign wealth funds continue treating lower prices as an entry point.

According to crypto.news market data, Bitcoin traded near $63,200 on June 9 after falling roughly 50% from its October 2025 record above $126,000. The sharp decline has weakened market sentiment, but D’Agostino said institutional demand has remained more stable than the price action suggests.

Coinbase sees institutional Bitcoin demand holding firm

“They loved it at $125,000, they liked it at $100,000, and they love it even more at $65,000,” D’Agostino said during a CNBC interview. He described the buyers as long-term allocators that completed extensive reviews before entering the asset class.

Such investors often build positions over longer periods instead of reacting to each daily move. D’Agostino said the latest decline has allowed some institutions to acquire Bitcoin at levels they had already considered attractive during the earlier rally.

In addition, D’Agostino pointed to about $100 billion held through spot Bitcoin exchange-traded funds. He said retail interest linked to those products had declined by about 15%, even though Bitcoin had lost close to half its peak value.

Bernstein analysts also described the downturn as a quieter market cycle rather than a collapse in Bitcoin’s store-of-value case. As previously reported by crypto.news, spot Bitcoin ETFs recorded $2.6 billion in net outflows during 2026, while corporate treasury purchases helped keep combined institutional demand positive.

Separately, as previously reported, spot Bitcoin ETFs had recorded 13 consecutive outflow days by June 5, the longest streak since their launch. Withdrawals were uneven across funds and did not amount to a full institutional exit. Bitcoin later recovered above $63,000, but remained more than 10% lower over seven days as of June 9.

Strategy purchase counters forced-selling concerns

Strategy added 1,550 Bitcoin for $101.3 million between June 1 and June 7, as previously reported. The company paid an average of $65,332 per coin and raised its total holdings to 845,256 Bitcoin.

The purchase followed Strategy’s sale of 32 Bitcoin in late May. The company also increased its dollar reserve to $1 billion. Its filing showed an average acquisition cost of $75,680 across its total Bitcoin position.

D’Agostino said he was unaware of any major institutional holder that was “horrifically overlevered” or nearing liquidation. He added that larger companies can often raise new capital to support their positions, although continued access to funding depends on market conditions.

The comments do not remove the risks facing Bitcoin. ETF outflows, weaker retail activity, and further price declines could still test institutional demand. 

However, current purchases and retained ETF exposure show that large investors have not responded to the downturn with widespread selling.

The UK’s Financial Conduct Authority has proposed allowing some authorized investment funds to hold up to a 10% allocation of crypto exchange-traded notes, closing a regulatory gap between retail investors and funds.

The FCA floated the idea in a quarterly consultation paper on Friday, which would allow retail-focused funds called undertakings for collective investment in transferable securities, or UCITS funds, and some non-UCITS funds to gain exposure to crypto.

The regulator said it wanted authorized funds to “remain contemporary and consistent with the demands of investors” while ensuring consumers “are adequately protected and markets function well.”

The proposal seeks to align rules on who can buy crypto products after the FCA lifted its ban on retail investors being able to trade crypto exchange-traded notes in August, as the regulator looked to align retail access to crypto with other countries.

The FCA said in its consultation that its proposed 10% cap would “set conservative restrictions on assets to which a fund can be exposed, in exchange for allowing these funds to be marketed to retail consumers.”

An excerpt from the FCA’s consultation pitching allowing retail funds limited exposure to crypto products. Source: FCA

The regulator added that it didn’t believe allowing retail-focused funds “to have significant exposure” to crypto products was appropriate, “given the speculative nature of the underlying cryptoassets.”

Related: UK Lords warn BoE could regulate pound stablecoins into irrelevance

Retail funds that want to invest in crypto must also show that the investment is “consistent with the disclosed investment objectives and risk profile of a given fund,” the FCA said.

The proposal said that unregulated and qualified investor schemes could invest in “more speculative assets,” and it would not apply a limit to holdings, but those funds can’t be marketed or sold to retail investors. 

The FCA is also seeking input on whether it should prevent funds centered on holding so-called “long-term assets” such as property and other retail-focused funds from holding crypto exchange-traded notes, arguing that it does not consider crypto to be consistent with the funds’ investment objectives.

The consultation on the proposal will last for five weeks, until July 13.

It comes as the UK has been clearing a path for crypto, with the FCA and Bank of England consulting on proposed rules for stablecoins, crypto custody and staking.

The Bank of England last month said it was reconsidering parts of its proposed stablecoin regime after crypto companies warned that holding caps and reserve requirements could stifle adoption.

In April, the FCA also made new rules for tokenized funds to make it easier for asset managers to use blockchains and sought feedback on guidance to clarify requirements for stablecoin issuance, crypto trading, custody and staking.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

While bitcoin BTC$63,369.44-holder listed firm Strategy’s chairman Michael Saylor blamed the AI boom for last week’s bitcoin selloff, crypto investment firm Arca is pointing the finger squarely at Saylor himself.

“The selling pressure last week was clearly due to the Saylor/MSTR news,” wrote Arca’s Chief Investment Officer Jeff Dorman in his weekly note, pushing back on what he called “gaslighting from MSTR and other Bitcoin bulls.”

Bitcoin, the leading cryptocurrency by market value fell nearly 14% to $60,000 last week. The sell-off happened after Strategy on June 1 disclosed that it sold 32 BTC in the preceding week. Strategy still holds 845,256 BTC worth billions of dollars.

Saylor attributed the sharp slide to AI infrastructure spending absorbing capital at historic scale.

“The AI buildout is absorbing capital at a historic scale, creating temporary pressure across global markets. That does not weaken Bitcoin. It strengthens the case for scarce, liquid, digital capital. Bitcoin remains the premier asset for the long term,” Saylor said.

Arca isn’t buying it.

Dorman’s argument is straightforward. What crashed the market waqs not the amount of BTC sold, which was just 32, worth roughly $2.5 million, but the realization of what that sale implied: that Strategy may need to sell significantly more bitcoin to meet the cash dividend obligations on its preferred shares, including STRC.

In Arca’s view, Saylor has made a series of missteps over the past three weeks. He used his only cash to pay off zero-coupon debt, then rattled markets by teasing a $2.5 million bitcoin sale, which is barely enough to cover one month’s preferred dividends. Strategy currently has roughly five months of cash flow remaining, Dorman noted, leaving the market to wonder what comes next.

The bullish scenario

Dorman says there is one scenario that could stabilize things quickly. If Saylor announces via 8-K filing that Strategy has raised $2 to $4 billion by selling MSTR stock and bitcoin, enough to cover preferred dividends through September 2028, Dorman believes markets would rally sharply. That buffer would remove the forced-seller overhang and give bitcoin room to breathe.

But Dorman doesn’t think Saylor will do it.

“Saylor is basically addicted to buying Bitcoin,” he wrote, suggesting the more likely outcome is continued drip selling, just enough each month to cover the dividend, which keeps steady pressure on the market.

“When the world’s biggest buyer becomes a forced seller, the market will keep pressing until there is blood,” Dorman wrote.

The bright spot

Last week’s BTC selloff was initially confined to Bitcoin itself and did not immediately spill over into the wider market, a bright spot that points to growing market sophistication, according to Dorman.

BTC’s dominance rate, or its share of the total crypto market, fell for the second consecutive week, hitting lows under 58% for the first time since September.

He noted that early in the week, bitcoin fell on its own idiosyncratic news while other crypto assets held steady. This, he said, was a clear sign that investors are now assessing each digital asset on its individual risk profile rather than indiscriminately selling everything when the market leader weakens.

“If BTC can move lower on its own idiosyncratic bad news without taking down the whole market, this would be yet another sign that digital asset market participants are becoming more sophisticated,” he added.

By week’s end though, BTC’s selloff became too intense and most assets joined the downtrend.

Key takeaways

• Ethereum continues its downtrend after breaking key support levels and testing a low of $1,505 last week.
• The broader crypto market remains under pressure following last week’s massive dump.

The cryptocurrency market starts the week on a weak footing, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) continuing to trade under heavy selling pressure following steep declines last week. 

Bitcoin lost more than 14%, Ethereum dropped over 15%, and XRP shed more than 13%, leaving technical indicators firmly tilted toward further downside risks. 

BitMine boosts Ethereum holdings with largest ETH purchase of 2026

Ethereum treasury company BitMine Immersion Technologies significantly expanded its holdings last week, purchasing 126,971 ETH as the second-largest cryptocurrency declined toward the $1,500 price region.

The acquisition marks BitMine’s largest weekly Ethereum purchase of 2026, underscoring the firm’s continued commitment to accumulating the digital asset despite recent market volatility.

Following the latest purchase, BitMine’s total Ethereum holdings have climbed to 5.54 million ETH. The company stated that it now controls approximately 4.59% of Ethereum’s circulating supply, moving closer to its long-standing objective of owning 5% of all ETH in circulation.

According to the firm, it remains on track to achieve that milestone before the end of the year, further strengthening its position as one of the largest corporate holders of Ethereum.

Ethereum slides below critical support areas

Ethereum is also extending its bearish trend, trading around $1,684 after breaking several key support levels below. The second-largest cryptocurrency remains firmly below its 50-day, 100-day, and 200-day EMAs, currently positioned near $2,058, $2,189, and $2,441, respectively.

The concentration of these moving averages above current price levels suggests that any recovery attempts could face strong selling pressure. Meanwhile, Ethereum’s daily RSI sits at 50, indicating a neutral market condition, while the MACD remains deeply negative, reinforcing the dominance of bearish momentum.

For bulls to regain control, Ethereum would need to overcome several resistance levels:

• Immediate resistance at $1,747.
• Psychological resistance at $2,000.
• 50-day EMA near $2,058.
• 100-day EMA around $2,189.
• 200-day EMA near $2,441.

On the downside, the next significant support level is located around $1,385, a zone where buyers could attempt to slow or reverse further declines if selling pressure intensifies.

The UK Financial Conduct Authority is weighing a targeted opening for retail investors to gain exposure to crypto via regulated funds. In a quarterly consultation paper published on Friday, the FCA proposed allowing a subset of authorized investment funds to hold up to 10% of crypto exchange-traded notes, narrowing a regulatory gap between retail access and fund strategies. The plan would extend to retail-focused funds known as UCITS, as well as some non-UCITS vehicles, subject to the cap and risk safeguards.

The regulator stressed that the aim is to keep retail participation aligned with investors’ expectations while protecting consumers and maintaining orderly markets. The move follows the FCA’s decision last August to lift the ban on retail traders accessing crypto exchange-traded notes, signaling a shift toward confirming how crypto products fit within the broader framework used for traditional assets in the U.K. market.

Key takeaways

• The FCA proposes a 10% cap on exposure to crypto exchange-traded notes for retail-focused UCITS funds and select non-UCITS funds, aiming for a conservative balance between access and protection.
• Retail funds would need to ensure any crypto exposure is consistent with their disclosed investment objectives and risk profiles, and the assets must align with what investors were told to expect.
• Unregulated and qualified investor schemes could invest in more speculative assets without a similar cap, but those funds cannot be marketed to retail investors.
• The consultation runs for five weeks, closing July 13, and would be a follow-on to the FCA’s broader push to normalize retail access to crypto within the existing regulatory framework.

Retail exposure: what changes and what stays controlled

Under the FCA’s proposal, UCITS funds and certain non-UCITS funds could carry up to 10% of their assets in crypto exchange-traded notes. The regulator described the cap as a way to impose “conservative restrictions on assets to which a fund can be exposed,” in exchange for allowing these funds to be marketed to retail consumers. In practical terms, managers would need to conduct enhanced due diligence, implement risk controls, and ensure that crypto holdings do not diverge from the fund’s stated strategy.

The FCA was explicit about not endorsing broad, high-concentration crypto bets within retail portfolios. It noted that allowing retail funds to hold significant crypto exposure would not be appropriate given the speculative nature of many crypto assets. To guard investors, funds would also have to prove that crypto holdings are consistent with the fund’s disclosed investment objectives and risk profiles, a safeguard intended to prevent unintended drift from what investors signed up for.

The proposal also targets potential misalignment for funds focused on long-term, tangible assets. The FCA suggested it may bar or restrict crypto exchange-traded notes in funds whose primary objectives revolve around long-term holdings such as real estate or other traditional assets, arguing that crypto exposure may be inconsistent with those funds’ investment aims.

What’s separate from the retail path

A distinction the FCA draws is that unregulated and qualified-investor schemes could pursue more speculative assets without a cap, but those funds cannot be marketed to retail investors. This separation aims to protect ordinary savers while preserving space for sophisticated investors to access riskier opportunities through private channels.

The consultation also reflects a broader UK regulatory trajectory toward crypto. Regulators have been actively mapping a path that lengthens retail access while safeguarding market integrity. The Bank of England and the FCA have been testing rules around stablecoins, crypto custody, and staking, signaling a coordinated approach to crypto policy rather than disparate, one-off moves.

In a related development, the Bank of England signaled it might rethink certain elements of its proposed stablecoin regime after industry feedback highlighted potential frictions around caps and reserve requirements. The regulator’s evolving stance underscores the tension between fostering innovation and enforcing safeguards that would support widespread adoption.

Earlier in the year, the FCA also rolled out rules intended to make tokenized funds easier to deploy on public blockchains and sought early guidance on the requirements governing stablecoins, trading, custody, and staking. These steps form part of a wider attempt to bring crypto activities into the regulated perimeter without stifling innovation.

For market participants, the central question is how these proposals translate into concrete product design and marketing. Fund managers will need to weigh how a 10% crypto sleeve in UCITS fits alongside liquidity, valuation, and risk management practices, while asset owners will consider whether regulated access aligns with their own risk tolerance and diversification goals.

Regulatory backdrop and what to watch next

The FCA’s consultation sits within a broader UK context of crypto policy development. The agency’s approach complements the Bank of England’s ongoing work on stablecoins and related infrastructure. Investors and managers should watch how the five-week consultation evolves, and whether the FCA introduces further conditions around disclosure, stress testing, and risk management that could shape the design of retail crypto products.

While the FCA continues to refine the retail pathway, the overarching regulatory landscape remains dynamic. The UK’s stance on crypto policy continues to evolve, with authorities signaling a preference for guided access rather than a permissive, hands-off regime. This balance will be pivotal for how quickly crypto assets become standard components in mainstream funds.

For market watchers, the next milestones are the consultation’s closing date and the regulator’s subsequent response—followed by potential amendments to fund rules and market conduct standards. The interplay between the FCA’s cap, disclosure requirements, and permitted fund types will likely influence fund launches, product structuring, and how asset managers prepare for retail participation in crypto.

According to the FCA’s CP26-17 consultation paper, the agency is actively seeking input on whether these exposures should be capped and how best to protect consumers while enabling broader access. The documents underpinning the proposal include the quarterly consultation paper and the full CP26-17 PDF, which detail the regulatory rationale and risk considerations. For readers seeking more detail, the FCA’s published materials are available here: CP26-17 quarterly paper and CP26-17 PDF.

As the policy dialogue unfolds, investors should remain mindful of the evolving nature of crypto regulation and the potential for adjustments to the cap, disclosure requirements, or eligible fund categories. The five-week window will decide not just the specifics of the cap, but how aggressively the U.K. intends to integrate crypto products into mainstream retail funds.

Looking ahead, the regulatory conversation around crypto custody, staking, and stablecoins—areas the Bank of England and FCA have been actively addressing—will continue to shape investor confidence and product viability. The balance regulators strike between safeguarding consumers and enabling practical access will be a key driver for retail adoption in the quarters ahead.

What remains uncertain is how fund managers will implement the cap in practice, how risk controls will be validated, and whether product disclosures will evolve to provide clearer expectations for retail investors. Readers should monitor the FCA’s final guidelines and any subsequent policy updates, as the retail crypto access framework could become a defining feature of the U.K. market’s readiness to embrace digital assets at scale.

The AI dip-buyers who hammered crypto last week came back overnight, just not for crypto.

MSCI’s Asia Pacific gauge rose 2.5%, South Korea’s Kospi climbed as much as 8% with SK Hynix up 11%, and the Nasdaq 100 added 1.6% as a semiconductor gauge gained more than 5%.

Crypto got none of that action. Bitcoin trades near $63,300, up about 0.8% over 24 hours, and ether near $1,691, up 1.8%, per CoinDesk data. BNB and Solana lead the majors at roughly 2.3%.

Every large token is still deep in the red on the week, with bitcoin off 10.8%, ether down 16%, Solana and Hyperliquid both off about 17%, and dogecoin down 14.7%.

Crypto sold off alongside AI shares last week when the rout was pinned on stretched chip valuations, and that beta has flipped on the way up.