As Bitcoin hovers between $76,100 and $78,000, it enters the weekend with minimal directional movement, marking its tightest trading range in weeks. Speculative capital has shifted towards altcoins, particularly AI-related tokens, with NEAR Protocol surging 28.5% and FET gaining 11.4%. The enthusiasm around AI tokens is fueled by the broader tech sector's momentum, as companies like Nvidia and Google reach new equity highs. HYPE, a token from the HyperLiquid exchange, experienced a remarkable 60% increase this week, driven by heavy short liquidations and institutional interest following the launch of US spot HYPE ETFs. The macroeconomic backdrop is also supportive, with Brent crude oil prices declining to $102 per barrel, enhancing risk appetite in equity markets. In derivatives, liquidations have dropped significantly, down 26% to $200 million, indicating a calmer trading environment. However, Bitcoin's inability to break out of its current range suggests that the market may remain cautious, with traders hedging against potential downside risks as indicated by the clustering of put options below current prices.