Bitcoin back above $60,000, ETH, SOL recoup losses as AI stocks stage rebound
The token fell to about $59,000 before buyers stepped in, but the week’s losses are steep across the board. A blowout Micron forecast lifted stocks and oil kept sliding, yet crypto did not follow.
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Summary
- Bitcoin slid below $60,000 this week amid continued outflows from U.S. spot bitcoin ETFs, a more hawkish Federal Reserve and a stronger dollar.
- Major cryptocurrencies broadly fell, with ether, XRP, solana, dogecoin and HYPE all posting steeper weekly losses, while tron was the lone major token to gain.
- Analysts warn that bitcoin’s approach to its 200-week moving average may signal a new crypto winter, with upcoming U.S. inflation data likely to influence whether the downturn deepens or eases.
