UNI jumped following Standard Chartered's $100 long-term forecast, as HYPE and Solana fueled a widespread altcoin rally. Bitcoin hovered around $66,000 as oil prices dropped to a three-month low and the Federal Reserve convened for the first time under Kevin Warsh.
By Shaurya Malwa Jun 17, 2026, 4:35 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Bitcoin was relatively unchanged around $65,800 as market participants anticipated the Federal Reserve's initial interest rate decision under new Chair Kevin Warsh, despite seeing a weekly increase of over 7%.
- Investment shifted towards altcoins, with Uniswap's UNI rising 22.5% after a favorable report from Standard Chartered. Meanwhile, tokens such as Hyperliquid's HYPE, Solana, and Ether experienced notable weekly advancements.
- Declining oil prices linked to a potential U.S.-Iran agreement and a bond market rally created a favorable environment for risk assets, making the Fed's stance on interest rates critical for Bitcoin's future direction as capital flows towards altcoins.
While Bitcoin's price remained stable, the broader cryptocurrency market exhibited signs of capital reallocations.
The leading cryptocurrency was priced around $65,800 on Wednesday, reflecting a slight 0.3% decrease over the past 24 hours but a 7.4% increase for the week, according to data from CoinDesk, as traders awaited the Federal Reserve's inaugural rate decision under new Chairman Kevin Warsh.
Altcoins were where the action occurred, with Uniswap's UNI being the highlight, rising 22.5% to $3.53 after Standard Chartered began coverage with a $100 price target for 2030. Geoffrey Kendrick, head of the bank's digital assets research, referred to the decentralized exchange as a fundamental component of the on-chain economy.
Hyperliquid's HYPE increased by 7.8% on the day and 34.3% for the week, while Solana saw a 14.7% rise over the week, despite being flat on Wednesday. Ether gained 1.4% to $1,793, marking a 10.4% increase for the week. XRP decreased by 0.9% to $1.22.
The macroeconomic environment continued to improve for risk assets, although Bitcoin did not benefit. Brent crude oil prices fell below $79 a barrel, the lowest level seen in over three months, following a 15% decline over four sessions, marking the longest losing streak this year.
This decline is attributed to expectations that a U.S.-Iran deal to reopen the Strait of Hormuz will lead to increased oil supply.
This agreement would allow Iran to sell oil immediately and access a $300 billion development fund, with the U.S. Treasury expected to issue waivers for Iranian crude and petrochemical exports upon signing the memorandum, in exchange for a commitment not to pursue nuclear weapons.
Bond markets saw a rally, with benchmark yields on Australian and Japanese 10-year bonds falling by approximately five basis points. Meanwhile, U.S. stocks showed weakness, with the Nasdaq 100 dropping nearly 2% on Tuesday due to declines in chipmakers, although S&P 500 futures rose by 0.2%.
This leaves the Federal Reserve in focus. Lower oil prices could alleviate inflation concerns just as Warsh assumes his role, making this decision the first indication of his approach to interest rates.
Bitcoin has closely followed risk assets throughout the fluctuations surrounding Iran, so the Fed's tone will be significant for its next movement, particularly as funds are flowing into altcoins rather than major cryptocurrencies.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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