TLDR Tech / Crypto
Bitcoin back above $60,000, ETH, SOL recoup losses as AI stocks stage rebound
Bitcoin bounced above $60,000 after a dip to $59,200, but weekly losses remain steep across major tokens: BTC off 5.4%, ETH down 7.9% to $1,616, XRP down 9.2% to $1.07, and SOL, HYPE, and DOGE posting double-digit weekly declines, with Tron the sole major gainer at +1.9%. Crypto decoupled from a broader equity rebound driven by Micron's blowout sales forecast and a 1.8% lift in Nasdaq 100 futures, with analysts attributing the divergence to continued US spot Bitcoin ETF outflows, the Federal Reserve's hawkish stance, and a US dollar at seven-month highs. Bitcoin's proximity to its 200-week moving average mirrors setups from 2015, 2018, and 2022, each of which preceded crypto winters lasting six months to nearly two years, with $55,000 cited as a plausible cycle low if the $61,800-$62,000 support zone breaks. Upcoming US PCE inflation data is the next catalyst that traders are watching.
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