Bitcoin traded around $64200 on Monday, little changed for the day but up 3 percent for the week. Surging oil prices linked to U.S.-Iran strikes and a semiconductor selloff triggered by a new Chinese AI model weighed on the market.
The largest cryptocurrency hovered near $64200 while trading volume reached about $18 billion. Brent crude climbed as much as 4 percent to $91.42 a barrel, its highest level since June, reviving inflation concerns that pressured risk assets.
Ether rose to $1860 and led major cryptocurrencies with a 5 percent weekly gain. Other tokens including XRP at $1.09, Solana at $76 and Dogecoin near $0.07 showed little movement.
A selloff in Asian chip stocks followed the release of Moonshot AI’s Kimi K3 model, which topped a coding benchmark and extended last week’s weakness into Monday. South Korea’s KOSPI index fell 3.5 percent as traders returned from a holiday.
No major U.S. economic data is scheduled this week, leaving corporate earnings from Alphabet, Tesla and Intel as the next tests for technology and crypto-linked trades.
