Dogecoin and BNB lead majors higher as bitcoin slips near $63,700

Dogecoin led the majors on Wednesday, rising almost 3% to just above 7 cents and taking its weekly gain to nearly 3%, while bitcoin slipped near $63,700 and was the only large token lower on both the day and the week.

BNB followed with a 2% gain to $614, up almost 2% over seven days. Tron rose almost 1% to just under 34 cents and leads its own week at over 2%. XRP added over half a percent to just above $1, though it remains down 5% on the week, the worst weekly performance among the majors. Solana and ether both edged up to $76 and $1,890 respectively, with solana up 3% over seven days.

Hyperliquid’s HYPE was the only other major in the red, down over 1% to $54 and 3% lower on the week.

Equities went the other way, powered by earnings. Korea’s Kospi rallied 4.6%, with Samsung Electronics and SK Hynix both jumping around 7% on optimism over shareholder returns, and MSCI’s Asia Pacific gauge rose almost 1% on semiconductor strength.

CoreWeave surged 16% after hours on stronger-than-expected sales growth, and Super Micro Computer rose almost 8% on a revenue forecast above estimates, lifting Nasdaq 100 futures.

Oil kept climbing. Brent rose over 1% to $90 a barrel, a sixth straight session of gains and its longest run since April, with traders still doubtful about a Middle East deal.

Jeff Mei, chief operating officer at BTSE, said the week’s direction rests on the inflation print and on whether Iran and the U.S. reach a deal over the Strait of Hormuz.

“Last week’s US job numbers were weak — a continuing narrative supporting this trend and lower inflation would cement expectations for Fed cuts by year-end, boosting liquidity and risk assets like Bitcoin,” Mei said.

“Traders should watch for any hawkish pushback from Fed speakers, but the macro setup could lead to a relief rally if this week’s CPI numbers are lower than expected,” he added.

July inflation data is due at 8:30 a.m. ET, with oil’s run feeding directly into it.