Dogecoin and Hyperliquid's HYPE led weekly crypto losses as AI stocks lure buyers
60-second summary
Ether is falling 8% this week as a rotation out of chipmakers lifts the stock market, with the equal-weight S&P 500 reaching a record. Crypto is not participating in the rally, with memecoins like Dogecoin plummeting even harder. The market is shifting towards AI stocks, luring buyers away from digital assets, indicating a potential decline in crypto prices.
A rotation out of chipmakers lifted much of the stock market, with the equal-weight S&P 500 at a record. Crypto was not part of it. Ether fell 8% on the week and the memecoins dropped harder.