Why is Crypto Up or Down?

Crypto is up (+1.6%) — Top: UNI +16.8%

Crypto markets traded higher on average (+1.59%) as sentiment improved around the AI-to-crypto narrative, reinforced by BlackRock’s view that AI-driven demand for crypto remains “underappreciated” and fresh headlines on AI governance, which kept the theme in focus. That backdrop helped concentrate flows into AI-adjacent and high-beta names, while DeFi outperformed with Uniswap (UNI) leading notable gainers, consistent with a risk-on tilt rather than a single-asset catalyst. In parallel, ongoing debate over U.S. legislative efforts to replace the Clarity Act likely tempered broader upside, keeping the move more selective than euphoric.

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