Ether leads crypto's hold above key levels as bitcoin steadies over $63,000
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Ether (ETH) led crypto majors into Monday as bitcoin held above $63,000, steadying after a week that pulled it off its lows and back to its highest in more than a month.
Key facts
- Ether was the stronger performer over the week, up 12.4% to about $1,777, while BNB and dogecoin each gained around 5.5%
- Bitcoin traded around $63,207, little changed on the day but up 5.5% over seven days, per CoinDesk data
- South Korea's Kospi fell 1.4% as Samsung Electronics and SK Hynix declined, and an MSCI gauge of Asian chipmakers slipped
- Brent crude fell 0.6% to about $71.70 a barrel, easing some inflation pressure ahead of the U.S. price data due later this month
Summary
Ether led major cryptocurrencies higher over the past week, rising about 12% as bitcoin held above $63,000 and reclaimed its late-June losses. Crypto prices stayed firm even as the AI- and chip-driven stock rally lost momentum, breaking the recent pattern of money rotating out of tokens and into technology shares. Traders see bitcoin’s hold above $63,000 as an early sign of a more durable recovery, though a stronger dollar and upcoming U.S. inflation data leave the market without a clear catalyst for further gains. Bitcoin traded around $63,207, little changed on the day but up 5.5% over seven days, per CoinDesk data.