Bitcoin climbs above $64,000 while most majors slip
2 hrs ago
2 min read
Summary
- Bitcoin climbed above $64,000 and was the only major cryptocurrency with a notable daily gain, while most other large tokens slipped or were flat.
- Analysts said bitcoin remains stuck between $62,000 and $65,000 and below key moving averages, leaving sellers in control of medium- and long-term trends.
- Publicly listed bitcoin miners have cut computing power by 21 percent over three quarters as they shift capacity to AI, even as AI platform Venice reported more than $100 million in annualized revenue and a jump in its VVV token.
- Oil prices rose above $91 a barrel after President Donald Trump signaled he would not extend an agreement with Iran and fighting intensified in Lebanon, pressuring bonds and stocks amid renewed inflation worries.
Bitcoin rose above $64,000 on Tuesday, up over 1% on the day and marginally higher on the week, the only major with a meaningful gain as the rest of the market drifted lower.
Ether eased half a percent to just under $1,900, though it holds an almost 1% weekly gain. XRP fell over 1% to just under $1 and is down over 2% on the week, the weakest of the group. Dogecoin dropped almost half a percent to 7 cents, BNB and tron both slipped marginally to just over $600 and 33 cents, and solana was flat at just under $76.
Hyperliquid's HYPE was the exception among the smaller majors, up almost 1% to just over $59 and 7.5% over seven days, by far the strongest weekly performance.
Alex Kuptsikevich, chief market analyst at FxPro, said bitcoin has now spent four days below its 50-day moving average after an earlier attempt to break above it, and remains below its 200-week average on the longer view. That puts sellers in control on both the medium and very long-term trends, he said, and nothing changes until the price leaves the $62,000 to $65,000 range it has been stuck in.
Bitcoin's own network is changing shape underneath the price. Publicly listed miners have cut their combined computing power by 21% over three quarters as they redeploy capacity to AI infrastructure, according to Miner Weekly, which attributes the shift to weak mining economics and competition from the AI sector for both capital and electricity.
Venice, the AI platform founded by serial crypto entrepreneur Erik Voorhees, said it had crossed $100 million in annualised revenue, and its VVV token rose 10% on the day to around $13.30.
Broader market continued their climb. Oil surged higher, with brent rising over half a percent to just over $91 a barrel after President Donald Trump said he was not interested in extending the expiring agreement with Iran, and as fighting flared again in Lebanon.
Asian bonds followed Treasuries lower on concerns about government finances, with higher energy prices adding to worries that inflation will pick up. Stocks and futures both fell.
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Building the Zcash Machine: Tachyon and Quantum Readiness
Building the Zcash Machine: Tachyon and Quantum Readiness
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
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Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
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