Bitcoin, Ether Slip 3% as S&P 500 Rallies, HYPE Up 20%
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- Bitcoin fell 2.6% to $73,445 over the past seven days, while Ether dropped 2.5% to $2,011, showing major cryptos drifting lower despite a stock rally.
- S&P 500 posted its ninth consecutive weekly gain, the longest streak since 2023, lifting the index nearly 20% from its March lows.
- Brent crude settled around $92 a barrel as hopes for a U.S.–Iran ceasefire extension buoyed markets.
- Spot bitcoin ETF inflows cooled, flattening to just 4,500 BTC year‑to‑date in May, a factor the article cited as pressuring crypto prices.
- Hyperliquid's HYPE token surged 19.4% to $65, becoming the only major crypto to rally that week.
- Trump reiterated his demand that any Iran deal require Tehran to abandon its nuclear program, surrender enriched uranium, and open the Strait of Hormuz, adding political uncertainty to the macro backdrop.
Why it matters: Bitcoin and Ether investors lose roughly 3% as spot‑ETF inflows dry up, while the S&P 500 enjoys a nine‑week rally fueled by oil stability and ceasefire hopes. The only crypto winner is Hyperliquid’s HYPE, highlighting a shift toward niche tokens as broader market sentiment cools.
