Bitcoin rose above $64,000 on Tuesday, gaining more than 1% on the day and edging higher on the week — the only major cryptocurrency with a meaningful advance as the rest of the market drifted lower.
Ether eased half a percent to just under $1,900, though it held on to an almost 1% weekly gain. XRP fell over 1% to just under $1, the weakest of the group, extending its weekly loss to more than 2% even as a South Korean regional bank announced it would adopt Ripple's cross-border payments service. Dogecoin slipped to 7 cents, BNB and Tron traded marginally lower at just over $600 and 33 cents respectively, and Solana was flat just under $76.
Hyperliquid's HYPE token stood out among smaller majors, adding almost 1% to trade just over $59 — a 7.5% gain over seven days that made it the strongest weekly performer in the top tier.
Range-Bound Below Key Averages
Analysts say the breakout case remains unproven. Bitcoin has spent four days below its 50-day moving average after an earlier attempt to break above it failed, and the price remains under its 200-week average on the longer view, according to Alex Kuptsikevich, chief market analyst at FxPro. That leaves sellers in control of both medium-term and very long-term trends until bitcoin escapes the $62,000–$65,000 range where it has been trapped for weeks.
Leverage data underscores the fragility. With bulls stacking long positions and liquidity thinning, derivatives watchers flag price levels below the market where forced liquidations could accelerate any downside move.
Miners Keep Handing Capacity to AI
Bitcoin's network is changing shape beneath 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 intensifying competition from the AI sector for both capital and electricity.
The AI pivot is producing real revenue for some crypto-native firms. Venice, the AI platform founded by Erik Voorhees, said it crossed $100 million in annualized revenue, and its VVV token jumped 10% on the day to around $13.30 — a rare double-digit move in a mostly flat market.
Macro Backdrop Tightens
Broader markets added pressure. Brent crude rose above $91 a barrel after US President Donald Trump signaled he would not extend the expiring agreement with Iran and fighting intensified in Lebanon. Asian bonds followed Treasuries lower on concerns about government finances, with higher energy prices feeding worries that inflation could reaccelerate. Stocks and futures both fell.
For now, bitcoin's ability to outperform a risk-off tape is notable — but with the market still range-bound below its key moving averages, analysts say the burden of proof remains with the bulls.