Oil climbed for a third day and gold fell for a fourth while bitcoin is up 1.6% on the week.

Major cryptocurrencies are trading in the red as renewed U.S.-Iran airstrikes push oil higher.

The token touched $64,400 overnight before easing back, still up about 6% on the week. A fresh missile strike on a Qatari gas ship in the Strait of Hormuz lifted oil and tested the late-June peace deal as Asian tech sold off again.

A stalling rebound in AI and chip stocks and a stronger dollar kept the mood cautious as the second half gets underway.

Barstool Sports founder Dave Portnoy said he will hold bitcoin all the way down to zero after buying near $100,000.

This cycle, about $697 billion in new money has generated a roughly 689% gain, compared with earlier cycles where far less capital drove returns of 2,000 percent to more than 50,000 percent.

Bearish traders lost $281 million in liquidations over 24 hours, nearly double the longs, as bitcoin pushed to its strongest level in two weeks. Ether is up almost 10% on the week and solana nearly 19% while a rebound in tech stocks eased the pressure from the AI trade.

Bitcoin climbed back above $60,000 for the first time in over a week after Fed Chair Kevin Warsh said inflation risks had come down. Solana led the majors, up about 16% on the week, while a semiconductor selloff hit Asian markets and dented the AI trade that has pulled capital from crypto all quarter.

Taiwan has passed a sweeping new law to regulate its crypto sector, sending the bill to the President for final approval.

BTC fell in Asia as the Japanese yen tanked to four-decade lows, lifting the dollar higher across the board.

Investors have pulled out $4 billion from the U.S.-listed spot bitcoin ETFs in June, the highest outflow on record.

The token is down nearly 7% on the week with the altcoins falling harder. Bitcoin and ether are both ending the second quarter in the red, a back-to-back losing first half that runs against the usual pattern.

A rotation out of chipmakers lifted much of the stock market, with the equal-weight S&P 500 at a record. Crypto was not part of it. Ether fell 8% on the week and the memecoins dropped harder.

Sellers broke another support level on heavy volume, while the recovery failed to reclaim the zone that would ease downside pressure.