Uniswap jumps 22% and altcoins rip while bitcoin stalls before the Fed
UNI surged after Standard Chartered set a $100 long-term target, and HYPE and solana led a broad altcoin bid. Bitcoin held near $66,000 as oil fell to a three-month low and the Fed met for the first time under Kevin Warsh.
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Summary
- Bitcoin traded roughly flat around $65,800 as investors awaited the Federal Reserve’s first rate decision under new Chair Kevin Warsh, even as it gained more than 7% over the week.
- Capital rotated into altcoins, with Uniswap’s UNI surging 22.5% after a bullish Standard Chartered report, while tokens like Hyperliquid’s HYPE, solana and ether posted strong weekly gains.
- Falling oil prices tied to a prospective U.S.-Iran deal and a bond rally improved the macro backdrop for risk assets, making the Fed’s tone on rates crucial for bitcoin’s next move as money shifts toward altcoins.
