Key facts
- Bitcoin is trading around $64,000, showing little change over the past week.
- Global stock indexes, including the MSCI All Country World Index, S&P 500, and Dow, hit record highs.
- Ether has fallen 2% on the week, making it the only major cryptocurrency in the red.
- Brent crude oil prices decreased to approximately $78.50 per barrel.
- Treasuries and gold prices advanced.
Bitcoin and other major cryptocurrencies traded flat near $64,000 on Wednesday, failing to participate in a broad rally that saw global stock indexes hit fresh records, fueled by renewed enthusiasm for artificial-intelligence-related shares. Ether was the only major token trading in the red for the week, down 2% to $1,864.
Bitcoin was up under 1% on the day and roughly flat over seven days. XRP fell nearly 1% to $1.07, dogecoin was down similarly to just under 7 cents, and tron declined under 1% to 33 cents. Solana remained flat near $73.60, while BNB added over 1% to $598, leading the major tokens with a 5% gain over the week. Hyperliquid's HYPE token was a standout performer, up 3% to nearly $56.
In contrast, global equities showed strong performance. MSCI's All Country World Index rose 0.4% toward a new record close, its Asia Pacific benchmark gained 2.2%, and Australian shares reached an all-time peak. This followed record closes for the S&P 500 and Dow Jones Industrial Average on Tuesday. Among specific stocks, SK Hynix surged 6.4% in early Seoul trading, and Nvidia added over 2% in after-hours trading, although AMD dropped 9% due to a weak sales outlook, and SpaceX fell 7.5% on higher projected AI spending.
Meanwhile, Brent crude oil prices fell 1.1% to about $78.50 a barrel. This decline occurred amid reports that Washington, Tehran, and Oman were nearing an agreement to reopen the Strait of Hormuz, with an announcement potentially expected on Wednesday. In response to the falling oil prices and the prospect of a Hormuz deal, Treasury bonds and gold prices advanced as traders reduced their expectations for further interest rate hikes.