Bitcoin tops $77,000 as U.S. equities steady

S. equities steadied on Friday, clawing back a slice of a punishing week as Treasury yields stopped climbing and risk appetite returned to the most beaten-up corners of the tape. Bitcoin (CRYPTO: BTC) rallied past $77,000, up more than 20% for the week and on pace for its best weekly gain since 2023. 6% by midday, on track to snap a three-session slide that had knocked the index down more than 1% on the week.

The macro backdrop was firmer than expected. 0 expected. 17. 81 as chip stocks stayed under pressure.

99, extending a year-to-date gain of more than 21%. 70 an ounce, a three-month high, as the dollar index headed for a weekly loss of nearly 1%. 5%. 7%.

4%. 7%. 3% as metals prices ripped higher. 1%.

4% in a broad unwind of the power-and-data-center trade, while the Energy Select Sector SPDR Fund (NYSE: XLE ) and the Real Estate Select Sector SPDR Fund (NYSE: XLRE ) were both essentially flat. 1%. 0%. 5%.

Robinhood Markets Inc. 8% after Trump publicly urged lawmakers to advance the Digital Asset Market CLARITY Act, and after Goldman Sachs lifted its price target on the broker to $123. The same legislative catalyst powered Coinbase Global Inc. 4% as bill proponents flagged optimism ahead of a Sept.

7 billion of crypto short positions were liquidated over 24 hours — the largest such flush on record. Strategy Inc. 4% higher. Moderna Inc.

5% in a third straight whipsaw session, still repricing Wednesday’s 177% moonshot on the first successful Phase 3 readout for an mRNA cancer vaccine, developed with Merck in melanoma, and after a 27% drop on Thursday. 2% and Freeport-McMoRan Inc. 2%. Virtu Financial Inc.

1% gain. On the Downside… Marvell Technology Inc. 5%, with the drop consistent with profit-taking after a multi-week run on custom AI-silicon wins. 5% and Intel Corp.

1%. Ubiquiti Inc. 0% in a textbook sell-the-news reaction to its fiscal fourth-quarter print before the open. 9% sequentially — a clean beat that still fell short of a stock priced for perfection after a vertical run.

The AI-infrastructure unwind hit the neocloud names the hardest. TeraWulf Inc. 7% and Applied Digital Corp. 6%, both on no fresh company news.

Neither appeared on the earnings calendar and neither drew an analyst action Friday; the moves reflect high-beta bitcoin-miner-turned-GPU-host positioning being cut as data-center enthusiasm cools, with TeraWulf carrying a beta above 4 and Applied Digital above 5. SOLV Energy Inc. 2%. 9 million with trades expected from around Aug.

19 — supply that lands into a session where utilities and power-infrastructure names were the market’s weakest link. Quanta Services Inc. 7% alongside it. Elsewhere in retail, Ross Stores Inc.

94 expected. Walmart Inc. 7% and is down roughly 10% on the week after its rare quarterly miss. Friday’s Russell 1000 Top Gainers Name % change Robinhood Markets, Inc.

83% Moderna, Inc. 47% Coinbase Global, Inc. 42% Virtu Financial, Inc. 10% MP Materials Corp.

10% Friday’s Russell 1000 Top Losers Name % change Marvell Technology, Inc. 51% Ubiquiti Inc. 03% TeraWulf Inc. -4.