Bitcoin has increased by 4.2% over the past week, despite facing an oil crisis, a bond market downturn, and two U.S. military actions in Iran.
By Shaurya Malwa Jul 10, 2026, 3:57 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Bitcoin surged 3.5% to nearly $64,000, recovering from losses associated with President Trump’s warnings about Iran, and concluded the week with a 4.2% gain.
- Other prominent cryptocurrencies also saw gains, with ether and dogecoin rising, while solana remained the only major token experiencing a weekly decline.
- Market analysts suggest that leveraged liquidations, a weakening dollar, and a robust rally in Asian semiconductor and AI stocks, rather than specific crypto events, are fueling Bitcoin's rise.
The strongest performance of Bitcoin this week came from trading activities in Seoul and Tokyo.
The leading cryptocurrency experienced a 3.5% increase, nearing $64,000 on Friday, bouncing back from a low of approximately $61,850 triggered by President Trump's comments about potential escalations in Iran. Approximately $28 billion worth of Bitcoin was traded within a 24-hour period, marking a 4.2% increase for the week according to CoinDesk data.
Ether rose by 2.6% to $1,760, also showing a 4% weekly increase. Solana increased by 2.6% to $78, although it remained at a 2.1% loss for the week, being the only major token not in the green. XRP climbed by 2.2%, TRON increased by 1.2%, and leads the major cryptocurrencies with a 4.7% rise over the week. Hyperliquid's HYPE rose by 1.8% to $68, while dogecoin gained 2.6% but stayed 0.8% down for the week.
The rapid fluctuations in Bitcoin's price can be attributed to leverage. Traders quickly adjusted their positions in response to the Trump headline, only to reinvest shortly after, a pace too quick for actual demand to have been the sole driver.
Shawn Young, chief analyst at MEXC Research, commented, "Once liquidations start influencing price movements, the market can react more swiftly than what genuine demand would suggest," and is currently observing Bitcoin's trading patterns within the $60,000 to $63,000 range following its initial recovery.
MSCI's Asia Pacific equities index rose by 1.4% as investors returned to semiconductor stocks, reducing the week's losses to less than 1%.
The Kospi in South Korea, a key indicator for AI investments, surged by 4%. SK Hynix was among the top performers after announcing a $26.5 billion issuance of American depositary shares, marking one of the year's largest share sales.
Additional gains were supported by a 0.6% strengthening of the yen and a decline in long-term Japanese government bond yields after Finance Minister Satsuki Katayama indicated that the government aims for pension funds to increase their domestic asset holdings. Bloomberg’s dollar index fell, heading for its second consecutive weekly decline.
Notably, no specific developments in the cryptocurrency sector impacted Bitcoin this week. There were no significant ETF inflows, protocol updates, or exchange failures. Bitcoin managed to navigate through an oil shock, a global bond market decline, a hawkish adjustment in Fed expectations, and two U.S. military actions in Iran, finishing the week up 4.2% primarily due to demand for Korean memory chips and a weakening dollar.
The dollar's third consecutive weekly drop is a key factor to monitor. Bitcoin's recent gains were measured against a depreciating currency, and if the dollar continues to decline while interest in AI investments remains robust, Bitcoin's trajectory might increasingly align with the semiconductor market rather than developments within the blockchain.
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SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
The stablecoin market cap decreased to $312 billion in June, marking its largest monthly decline since the TerraUSD incident, while tokenized equity volumes surged by 145% to a record $3.86 billion.
By CoinDesk ResearchJul 7, 2026The stablecoin market cap decreased to $312 billion in June, marking its largest monthly decline since the TerraUSD incident, while tokenized equity volumes surged by 145% to a record $3.86 billion.
Why it matters:
The stablecoin market cap decreased to $312 billion in June, marking its largest monthly decline since the TerraUSD incident, while tokenized equity volumes surged by 145% to a record $3.86 billion.
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