Crypto Markets Defy Rising Yields as AI Trade Remains Strong

Crypto markets continue to show strength despite rising yields, with Bitcoin (BTC) and Ethereum (ETH) both experiencing growth this week. BTC rose by 2.37%, while ETH climbed 2.14%. The total crypto market cap grew to $2.92T, a 1.74% increase from the previous week.

The AI trade remains a key driver of market activity, with funding rates across major assets beginning to rise again after a decline last week. This may indicate a more risk-on market environment.

Notable developments include Michael Saylor's Strategy acquiring 1,665 BTC for approximately $142.7M and repurchasing $152M of STRC, bringing their total holdings to 847,666 BTC. BitWise launched the first NEAR spot ETF, ticker NRR, with an annual management fee set at 0.75%.