Bitcoin Holds Near $64,000 As Oil Surge And AI Stock Selloff Pull Markets In Opposite Directions

Bitcoin traded close to $64,300 today, largely unchanged on the day, as investors weighed a sharp rise in oil prices against lingering fallout from a Chinese AI model release that shook equity markets on Friday. Btc was up 3% for the week, with roughly $18 billion in trading volume. Ether outperformed the rest of the market, sitting at $1,862 and up 4.8% over the past seven sessions.

Altcoins Mostly Steady, HYPE Slides

Other major tokens saw little movement. XRP held around $1.09, Solana traded near $76, BNB slipped to $566, and dogecoin stayed close to $0.07. $HYPE stood out as the weak spot, falling 10% over the week to $60 amid a broader risk-off mood rather than any specific negative news.

Oil Prices Spike On Widening Conflict

Brent crude climbed as much as 4% to $91.42 a barrel, its highest level since June, as US and Iranian strikes expanded beyond military targets. The jump revives inflation concerns that had briefly cooled following softer US price data earlier this month.

AI Shockwaves Still Rippling Through Markets

Equity and tech markets are still recovering from Friday’s selloff, triggered when Moonshot AI’s Kimi K3, an open-weight Chinese model, topped a closely watched coding benchmark and sparked a semiconductor selloff that dragged crypto lower. The effects carried into Monday’s Asian session, with South Korea’s Kospi index dropping 3.5% as traders returned from a holiday. US futures were steadier, with the Nasdaq 100 up 0.5%.

For crypto, the two forces are largely offsetting each other. War-driven oil prices raise inflation worries, which tend to weigh on risk assets and complicate the case for the Federal Reserve holding interest rates steady. At the same time, competition from Chinese AI models is pressuring chip stocks that bitcoin has tracked closely throughout the month.