Crypto lagged stronger equity sentiment, with the equal-weight S&P 500 hitting a record and U.S. equity futures rising on reported U.S.-Iran de-escalation while Bitcoin and ether stayed on track for a second straight losing first half.
Crypto underperformed broader market risk sentiment as money rotated beyond chipmakers and lifted the equal-weight S&P 500 to a record, while U.S. equity futures also rose after reports that the U.S. and Iran agreed to halt strikes and resume talks. Bitcoin showed little immediate reaction and remained down 6.8% on the week, while ether was set to finish the second quarter in the red after a weekly drop described as about 8% in one source and nearly 7% in another. Altcoins and memecoins fell more sharply, pointing to weaker appetite in the more speculative parts of the crypto market.