Key facts
- Dogecoin led major cryptocurrencies with a nearly 3% daily gain.
- Bitcoin was the only large token lower on the day and the week, slipping near $63,700.
- BNB followed with a 2% gain to $614.
- Asian equities rallied, with Korea's Kospi jumping 4.6% on semiconductor strength.
- Brent crude oil rose over 1% to $90 a barrel.
- Investors are awaiting U.S. CPI data and Middle East developments.
Dogecoin led major cryptocurrencies with a nearly 3% daily gain, while bitcoin slipped near $63,700 and was the only large token lower on both the day and the week. BNB followed with a 2% gain to $614, while Tron rose almost 1% and XRP added over half a percent. Solana and ether also saw slight gains.
Equities, however, moved higher, powered by strong semiconductor earnings. Korea's Kospi rallied 4.6%, with Samsung Electronics and SK Hynix jumping around 7% on optimism over shareholder returns. MSCI's Asia Pacific gauge rose almost 1% on semiconductor strength. In the U.S., CoreWeave surged 16% after hours on stronger-than-expected sales growth, and Super Micro Computer rose almost 8% on a revenue forecast above estimates.
Oil prices continued to climb, with Brent rising over 1% to $90 a barrel for its sixth straight session. Traders remain doubtful about a Middle East deal.
Analysts are watching Thursday's U.S. CPI report and Middle East tensions. Jeff Mei, chief operating officer at BTSE, noted that weak U.S. job numbers support expectations for lower inflation and potential Federal Reserve rate cuts by year-end, which could boost liquidity and risk assets like Bitcoin. However, he cautioned traders to watch for any hawkish pushback from Fed speakers.