Bitcoin held near $66,300 on Wednesday, consolidating a two-week high, as the semiconductor rally that has boosted cryptocurrencies all month extended into a second session and the Japanese yen sank to its weakest level in four decades.
The largest cryptocurrency is up nearly 1% on the day and 3% on the week, with around $31 billion changing hands and a 24-hour range of about $65,400 to $66,900.
Ether traded near $1,935, up 3% on the week. XRP added 2% to $1.14 and TRON rose, while the laggard of the day was the hyperliquid HYPE, which was down 4% to $60 and 10% in seven sessions. Bitcoin’s dominance and the quiet daily moves of big companies point to a market rising in macro terms rather than any crypto-native catalyst.
The driving force remains chip trading. MSCI’s Asia Pacific stock gauge rose 1%, extending Tuesday’s biggest daily gain in a month, with South Korea’s Kospi jumping 5% as it appeared to be ending a leveraged position drawdown that had taken the benchmark almost 30% off its peak.
Samsung and SK Hynix led, following a more than 5% jump in a U.S. semiconductor gauge on Tuesday that lifted the index out of technical bear market territory.
