Market sentiment remains cautious against the backdrop of the rebound of AI and chip stocks and the strengthening of the United States dollar. Over the past week, leading the main encrypted currency by the Taifeng increased by about 12 per cent, while bitcoin remained stable at over $63,000, recovering losses at the end of June.
Although AI and chip-driven stock rebounds have lost kinetic power, the price of encrypted currency remains strong, breaking the recent pattern of capital flows from coins to technology units. The performance of bitcoin in excess of $63,000 was seen by traders as an early sign of a more sustained recovery, but the strong dollar and the forthcoming publication of United States inflation data left the market without a clear catalyst for further increases.
On Monday, ETH led the encrypted currency, with bitcoin at over $63,000, and stayed at the highest point in over a month. According to CoinDesk, the transaction price of Bitcoin was approximately US$ 63,207, which was not very variable in the day, but increased by 5.5 per cent over the past seven days. The performance was stronger at 12.4 per cent per week, with current prices of approximately $1,777. At the same time, BNB and dog coins each increased by about 5.5 per cent. Solana rose by 11.2 per cent and remained close to $80.77, while Hyperliquid ' s hype week increased by 14.6 per cent. The XRP transaction price was $1.14, an increase of 9.4 per cent in seven days.
Brent crude oil prices fell by 0.6 per cent to approximately $71.70 per barrel, easing inflationary pressures caused by forthcoming United States price data. The strengthening of the United States dollar against all major currencies has put pressure on the encryption market, and the movement of the encrypted currency over the past quarter has been closely linked to dollar fluctuations.
The strong performance of the encryption market is of concern, especially in the context of the wavering of AI transactions. In the past quarter, large amounts of money have been diverted from the encrypted market to chips and AI stocks, and the cracks in this transaction tend to drag down the currency market. Bitcoin has recovered the ground lost at the end of June at the beginning of this week, and the next trend may depend on the soon-to-be-published inflation data and the stability of the main encrypted currency as US transactions return to full-scale. While the United States dollar remained strong, the uncertainty of AI transactions had led to a lack of a clear-cut catalyst for the rise in the market.