Asian semiconductor stocks staged a strong rebound, while a five-day streak of ETF inflows surpassed $600 million and oil prices eased amid diplomatic developments in the Middle East.
Bitcoin rose to roughly $66,100 on Tuesday, marking a one-month high, as last week’s semiconductor-driven selloff reversed and a rally in Asian chip stocks lifted broader risk assets.
The leading cryptocurrency gained 1% on the day and 5% over the week, with trading volumes around $33 billion. Ether outperformed once again, climbing to $1,922, up 3% daily and 8% over seven days. XRP increased 3% to $1.13, bringing its weekly gain to 6%, while Solana added 2% to reach $78. BNB remained steady at $574, and Dogecoin showed little movement. Hyperliquid’s HYPE advanced 4% to $63 but remained the only major token still down on a weekly basis.
The recovery began in the same sector that drove last week’s losses. MSCI’s Asia Pacific equities index rose 2%, its first advance in four sessions, led by gains in Samsung and Taiwan Semiconductor.
Equity benchmarks in South Korea and Taiwan each jumped around 4%, while a technology-focused index in mainland China surged nearly 7% as state-backed investors stepped in. Japan’s Nikkei climbed 3% after entering correction territory on Friday. The recent AI-driven shock to chip stocks in China has, for now, given way to renewed buying interest in those same companies.
Additional support came from institutional flows, with U.S. spot Bitcoin ETFs recording five consecutive days of inflows totaling more than $600 million. This marks the strongest sustained buying since mid-July and a reversal from the eight-week stretch of outflows that lasted through late June.
Meanwhile, oil prices retreated after two days of gains tied to geopolitical tensions. Brent crude fell 1% to around $88.58 after Iran indicated that mediators were circulating proposals aimed at easing conflict, including a reported plan for a 10-day pause in strikes.
“Current bitcoin and ether prices are low but fair, given the macro uncertainties across markets,” said Jeff Mei, chief operating officer at BTSE, highlighting the upcoming Federal Reserve meeting as a key focus for traders.
“Markets expect rates to remain unchanged but are watching closely for signals about the policy outlook later this year,” Mei added.
Attention now turns to the Federal Reserve’s July 28–29 meeting. Markets assign roughly a 15% probability to a rate hike in July, though the possibility of a move in September remains.
Despite rising prices, spot trading volumes across crypto markets remained relatively muted, suggesting the rally is being driven more by improving risk sentiment than strong new conviction. Elevated oil prices and Treasury yields continue to act as factors that could keep the Fed cautious and limit upside for risk assets.
Ultimately, the same dynamic that shaped market direction throughout the month has simply reversed. Bitcoin declined last week alongside falling Asian chip stocks, and is now climbing again as those equities recover.
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