Bitcoin is trading flat while the rest of the crypto market is showing signs of capital turnover.
The largest token traded around $65,800 on Wednesday, down 0.3% over 24 hours but up 7.4% over the week, according to CoinDesk data, holding near $66,000 as traders awaited the Federal Reserve’s first rate decision under new Chairman Kevin Warsh.
The action was in altcoins. Uniswap’s UNI stood out, jumping 22.5% to $3.53 after Standard Chartered initiated coverage with a price target of $100 by 2030, with the bank’s head of digital assets research Geoffrey Kendrick calling the decentralized exchange a foundational layer of the blockchain economy.
Hyperliquid’s HYPE rose 7.8% for the day and 34.3% for the week, and Solana added 14.7% over seven days, although it was flat on Wednesday. Ether gained 1.4% to $1,793 and is up 10.4% for the week. XRP slipped 0.9% to $1.22.
The macroeconomic backdrop continued to improve for risk assets, but not for bitcoin. Brent crude fell below $79 a barrel, its lowest level in more than three months, after sliding 15% in four sessions during its longest period of losses this year.
