Crypto got political this week. Donald Trump and Elon Musk dominated headlines with a high-stakes power play. The crypto market wasn’t impressed, though. Bitcoin [BTC] slipped, Ethereum [ETH] dropped, and traders stayed cautious.

Meanwhile, utility tokens stole the spotlight, clocking double-digit gains. In contrast, A.I.-based tokens took a hit, leading the week’s losers.

AB [AB] tops this week’s gainers with a strong 25.63% rally, closing at $0.0108. Interestingly, more than half of those gains came in a single session on the 7th of June, when AB surged 22% in one day. 

While this kind of sharp spike often signals a potential overextension, especially as price hits a one-month high. In turn, it also opens the door for opportunistic shorts eyeing a pullback.

But here’s where conviction comes into play.

Despite the rapid move, the RSI remains well below overbought levels, and trading volume spiked over 77%. That combo screams “momentum still in play.” 

According to AMBCrypto, this is a prime short squeeze territory, provided the sell-side liquidity gets soaked up.

Keep your eyes glued to the on-chain volume. If the bid wall crumbles, shorts take the driver’s seat. But if conviction holds steady, a retest of $0.011 looks like a smooth next move.

SPX6900 [SPX] is closing in on the second spot with a sharp 22.97% weekly surge, standing out as the only top gainer to extend its rally from the previous week.

The week opened with a 10% jump to close at $1.13. As expected, bearish pressure loomed again, as the memecoin peaked back at its late January high.

In fact, on the 5th of June, a 5.35% decline brought SPX down to $1.07, giving shorts an entry point. Yet, the bulls haven’t solidified the $1.14 price as resistance. With an 8% push the next day, SPX closed the week at $1.18. 

Overall, the structure remains bullish. While short-term volatility may flare near overhead supply, unless capitulation hits, FOMO is fueling a run at the $1.20 breakout level.

Sky [SKY] secured the third spot among weekly gainers, closing with an 11.89% jump from its $0.06 open.

The week began with SKY extending its previous rally, establishing a solid support base at $0.064. Two consecutive days of sharp gains followed, propelling the token to $0.10 – its highest level since December.

However, the bulls couldn’t sustain the momentum. Despite no signs of overheating, SKY retraced to $0.07 as weaker hands exited. Now, the focus shifts to whether bulls can defend this level.

The next few sessions are crucial. If $0.07 holds as support, it could act as a launchpad for a fresh breakout, potentially sending SKY beyond the key $0.10 resistance.

Outside the majors, altcoin rockets stole the spotlight this week.

KLED AI [KLED] led the charge with a staggering 536% surge, easily dominating the leaderboard. BUILD On BNB [BOB] followed with a massive 413% jump, while GIZA [GIZA] rallied 235%.

DeXe [DEXE] leads this week’s losers with a sharp 24.52% drop from its $14.22 open.

The week kicked off with a brutal 31.95% single-day plunge, marking the largest red candle in DEXE’s history and sending the token to a six-month low of $8.20.

What makes this reversal more striking is its timing: DEXE had just staged a strong recovery last week, attempting to break out of its $12–$14 consolidation range.

That momentum briefly crowned it the top performer. But the sudden collapse triggered heavy long liquidations, snapping bullish structure and pushing RSI to a two-month low.

Yet, DEXE has recovered 2.6%, reaching $10.66 at press time, showing signs of resilience.

This move could be a classic reset, shaking out weak hands and setting up a potential short squeeze.

Now, all attention is on the $14 resistance.

A clear breakout could confirm the reversal and boost bullish momentum, but failure to reclaim this level keeps risk high, highlighting the fragility of the rebound.

Jupiter [JUP] slipped 13.81% to close at $0.44, marking the second-largest weekly loss.

The week started with a modest 1.48% gain, extending a slow rebound from last week’s drop to $0.50. However, this early strength quickly faded.

Since May, JUP’s chart has shown repeated failures at rally attempts, with no clear or sustainable support level emerging.

Instead, each bounce has been met with selling pressure, indicating a lack of conviction among buyers.

The absence of a well-defined support base leaves JUP vulnerable to further downside. Unless bulls can decisively change the trend, the token risks slipping toward the next key level near $0.40.

Bittensor [TAO] claimed the third-biggest loser spot with a 10.97% drop, closing the week at $370.

Since peaking near $500 in May, TAO has retraced to mid-February levels, posting three consecutive lower lows and confirming sustained bearish pressure.

Weak support has allowed opportunistic shorts to maintain downside bets, while deleveraging futures traders pushed TAO’s Open Interest down by 9% at press time.

Liquidity remains fragile for this AI token. Though TAO bounced off early May support, short-term holders sitting on sizable gains keep sell-side pressure alive.

TAO ended the week with a 5% rebound, but maintaining momentum will be tough without heavy smart money accumulation. If selling persists, a retrace toward $330 seems likely.

In the broader market, downside volatility hit hard.

MinoTari [XTM] took the biggest hit with a sharp 39.2% drop, followed by Collateralize [COLLAT] down 28.9%, and WalletConnectToken [WCT] slipping 28.4% as momentum cooled.

Crypto brought chaos again this week – big gains, tough losses, and nonstop swings to keep traders guessing.

Remember: DYOR before jumping in. Stay sharp, trade smart, and ride the waves wisely!