Let’s get into the week’s biggest headlines.
While Bitcoin wavered between US$107,000 and $110,000, Ethereum clawed its way back to $2,700. Renewed confidence in Ethereum’s roadmap, plus stabilising US treasury yields and mounting institutional flows have helped ETH to maintain its momentum.
According to a CNBC report, a key federal court ruling on Wednesday struck down US President Donald Trump’s controversial reciprocal tariffs, calling them an overreach of executive power. The legal challenge to the tariffs boosted equities and tempered concerns over another inflationary wave. Still, the Federal Reserve (Fed) remains cautious; based on minutes from its May meeting, officials are holding rates steady due to heightened uncertainty over fiscal and trade policies.
Amongst crypto sectors, decentralised finance (DeFi) led 7-day gains at 7.2%. The Hyperliquid blockchain saw a surge in deposits and trading activity, pushing its native token, HYPE, to a record high — partly hyped by a whale trader flipping billion-dollar BTC trades. This momentum reflects a broader shift, as DeFi was the best-performing sector of the week, and is reinforced by new signals out of Consensus 2025 in Toronto, from Wall Street’s rising appetite for staking and futures, to the pressure on financial advisors to get serious about crypto strategy.
On the institutional front, capital kept pouring in, as US spot Bitcoin exchange-traded funds (ETFs) notched $2.75 billion in net inflows — the sixth straight week of gains — while Ether ETFs pulled in $248 million, a sixfold jump from the prior week.
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