Doge, HYPE and Ether Took the Week's L-While AI Stocks Ate the Gains 🦴

Dogecoin and Hyperliquid's HYPE led weekly losses across major cryptocurrencies, each shedding close to 10 percent as capital continued rotating toward equities tied to the artificial-intelligence boom. Dogecoin slipped 9.6% over seven days to about $0.076, while HYPE lost 9.9%, the steepest declines among large-cap tokens, according to CoinDesk data.

Ether fell 8.4% on the week to about $1,581 and XRP dropped 7.8% to $1.06. Solana and Tron were comparatively steady, ending roughly flat at $72 and $0.32 respectively. Bitcoin proved more resilient, slipping 5.3% to around $60,345 on Saturday after dipping to about $58,800 on Friday before recovering.

"Bitcoin approached $58K at its lows late Thursday and early Friday, but in both cases, aggressive buying quickly pushed it back into the $60K range," Alex Kuptsikevich, chief market analyst at FxPro, told CoinDesk. "This pattern resembles margin position liquidations during downtrend spikes, followed by strong buying on pending orders during the recovery." Kuptsikevich added that, given deteriorating sentiment among institutional investors and their ability to quickly divest from cryptocurrencies to stabilize balance sheets, "it is worth preparing for continued pressure and periodic sell-off spikes by leveraged traders."

Crypto remains under pressure from U.S. spot bitcoin ETF outflows, a hawkish Federal Reserve and a strong dollar, even as risk appetite persists in equities. The S&P 500 closed little changed, but most of its members rose and the equal-weight version of the index, which strips out the dominance of the largest stocks, hit a record high. Falling oil helped sentiment, while semiconductor shares took another leg lower after a run that still left them on track for their best quarter ever.

The swings in chip stocks point to a broader shift, with optimism around AI giving way to worries about how far valuations have run. The rotation out of the chipmakers that have led the market and into a wider set of companies tied to steady growth is spreading, leaving major memecoins and altcoins to absorb the week's outflows.