Cryptocurrencies lagged a broad stock rally as ETF demand cooled, leaving digital assets behind equities over the recent week and into Friday. The S&P 500 posted its ninth consecutive weekly gain on Friday, marking the index’s longest such run since 2023. Bitcoin traded around $73,523.91 and Ether around $2,011, and both finished the week down nearly 3% from their prior closes.
During the past week, Bitcoin’s price slipped by 2.6%, closing at $73,445. Ether also saw a decline of 2.5%, ending the week at $2,011. Solana experienced a decrease of 2.2%, finishing at $82.42. Notably, TRON’s TRX suffered the most significant loss among the top ten cryptocurrencies, falling by 5.6%. In contrast, DOGE remained relatively stable, showing no significant change. Hyperliquid’s HYPE token significantly appreciated, rising by 19.4% to reach $65. BNB saw an increase, closing the week up by 1.9%, and XRP recorded a modest gain of 0.7%. These movements highlight a diverse performance spectrum within the major cryptocurrencies over the week.
The Iran deal still needs President Trump’s signature. A hopeful posting on Iran from President Trump helped erase morning losses. The macro tailwind has come on hopes the U.S. and Iran will sign off on a 60-day ceasefire extension.
The preliminary agreement restated demands that Iran abandon its nuclear program. The reported terms also require Iran to surrender its enriched uranium. The agreement would include a provision to open the Strait of Hormuz. President Trump restated his demand that any deal meet those conditions. The language also referred to a final determination on a preliminary agreement while restating the demands.
Cryptocurrencies trailed a strong stock market rally, even as the S&P 500 recorded its longest consecutive weekly winning streak since 2023. Cooling ETF demand coincided with notable geopolitical developments, including hopes for a U.S.-Iran ceasefire extension and related diplomatic activity, which together framed a market environment where equities generally outperformed major digital assets. That combination of softer ETF flows and geopolitical news shaped market sentiment across asset classes during the week.
