Dogecoin and Hyperliquid’s HYPE led weekly crypto losses as AI stocks lure buyers
A rotation out of chipmakers lifted much of the stock market, with the equal-weight S&P 500 at a record. Crypto was not part of it. Ether fell 8% on the week and the memecoins dropped harder.
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Summary
- Major cryptocurrencies fell this week as investors favored stocks tied to the artificial-intelligence boom, with dogecoin and Hyperliquid’s HYPE each losing about 10 percent.
- Bitcoin proved relatively resilient, slipping about 5 percent and repeatedly rebounding from dips near $58,000 amid signs of margin liquidations and aggressive dip-buying.
- Crypto remains under pressure from U.S. spot bitcoin ETF outflows, a hawkish Federal Reserve and a strong dollar, even as risk appetite persists and broad equity indexes hit new highs.
