Bitcoin is trading flat while the rest of the crypto market is showing signs of a capital rotation.
The largest token was trading around $65,800 on Wednesday, down 0.3% over 24 hours but up 7.4% on the week, per CoinDesk data, and held near $66,000 as traders awaited the Federal Reserve’s first interest rate decision under new Chairman Kevin Warsh.
The action was in altcoins. Uniswap’s UNI was the standout, rising 22.5% to $3.53 after Standard Chartered initiated coverage with a $100 price target by 2030, with the bank’s head of digital assets research Geoffrey Kendrick calling the decentralized exchange a fundamental layer of the on-chain economy.
Hyperliquids HYPE rose 7.8% on the day and 34.3% on the week, and solana added 14.7% over seven days, even while flat on Wednesday. Ether rose 1.4% to $1,793, gaining 10.4% on the week. XRP fell 0.9% to $1.22.
The macro backdrop continued to improve for risk assets, just not for bitcoin. Brent oil fell below $79 a barrel. barrel, the lowest in more than three months, after falling 15% over four sessions in its longest loss this year.
