Bitcoin Rises Above $64,000 While Other Major Tokens Trade Lower

Bitcoin climbed past $64,000 on Tuesday, gaining more than 1% on the day and posting a modest weekly increase, making it the only major cryptocurrency with a notable daily gain while most other large tokens drifted lower or stayed flat.

Other Major Tokens Show Mixed Weakness

Ether slipped roughly half a percent to just under $1,900, though it remains up nearly 1% for the week. XRP fell more than 1% to just under $1, making it the weakest performer among major tokens with a weekly decline exceeding 2%. Hyperliquid’s token was the standout exception among smaller majors, rising almost 1% on the day and gaining 7.5% over the past week, by far the strongest weekly performance in the group.

Analysts Say Bitcoin Remains Range-Bound

According to a market analyst at a trading firm, bitcoin has now spent four consecutive days below its 50-day moving average after an earlier attempt to break through it, and remains below its longer-term 200 week average as well. That combination suggests sellers retain control across both medium and long-term trends, with little likely to change unless bitcoin breaks out of the roughly $62,000 to $65,000 range it has been confined to recently.

Mining Industry Shifts Toward AI Infrastructure

Publicly listed bitcoin mining companies have collectively cut their computing power by 21% over the past three quarters, redirecting that capacity toward AI infrastructure instead. Industry tracking data attributes the shift to weak mining economics combined with growing competition from the AI sector for both capital investment and electricity supply.

Broader Markets Under Pressure

Oil prices pushed higher, with Brent crude rising over half a percent to just above $91 a barrel after the U.S. president said he had no interest in extending an expiring agreement with Iran, while renewed fighting in Lebanon added further pressure. Asian bonds tracked U.S. Treasuries lower amid concerns over government finances, and rising energy costs added to inflation worries. Both stocks and futures markets declined.