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Both Bitcoin and Ethereum spent the week consolidating, with Bitcoin trading back above $114,000 and ETH holding firm above $4,400. The spotlight was on Hyperliquid, which announced the launch of its USDH stablecoin, pushing HYPE to fresh all-time highs. In other news, an NPM supply chain attack on crypto surfaced on Monday, though Ledger CTO Charles Guillemet noted the attempt was largely unsuccessful.

SEC Chairman Jerome Powell hinted at potential rate cuts on Friday, sparking a rally in crypto. Bitcoin jumped to $117,000, while Ethereum reached a new all-time high. Since then, both have pulled back, with BTC now trading at $113,000 and ETH at $4,500.

Bitcoin broke down below the 117K range, briefly touching 112K before recovering to 115K. Ethereum dropped by 8.5% but has since rebounded, trading near last Thursday’s daily close.