Dogecoin and Hyperliquid's HYPE led weekly crypto losses as AI stocks lure buyers
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- Dogecoin and Hyperliquid's HYPE led weekly crypto losses, falling 9.6% and 9.9% respectively over seven days, as money flowed toward equities tied to the artificial-intelligence boom.
- Bitcoin slipped 5.3% to roughly $60,345, rebounding from Friday's dip near $58,800 after aggressive buying pushed it back above the $60K mark.
- Ether dropped 8.4% to about $1,581 and XRP fell 7.8% to $1.06, while Solana ($72) and Tron ($0.32) held roughly flat on the week.
- The equal-weight S&P 500 hit a record high as Wall Street rotated out of chipmakers into a broader set of steady-growth names, with falling oil aiding sentiment.
- Crypto remains under pressure from US spot bitcoin ETF outflows, a hawkish Federal Reserve, and a strong dollar; bitcoin is still sitting on its 200-week moving average.
- FxPro's Alex Kuptsikevich warned that deteriorating institutional sentiment and their ability to quickly divest from crypto could produce continued pressure and periodic sell-off spikes from leveraged traders.
Why it matters: Investors chasing the AI trade are bypassing crypto entirely — even as risk appetite persists in equities (equal-weight S&P 500 record). With bitcoin unable to hold above $60K and sitting on its 200-week moving average, institutional capital is actively de-risking crypto, not just rotating within it.
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