Risk is coming off as the week’s trading opens: every one of the session’s five steepest fallers is a crypto name, and all five of the biggest gainers are long-dollar pairs.

Crypto

The losers board is a clean sweep lower. Tezos (XTZUSD) is down 7.62% to $0.2835, Polkadot (DOTUSD) off 7.60% to $1.106 and Uniswap (UNIUSD) also down 7.60% to $7.907. Graph (GRTUSD) lost 6.92% to $0.0269 and Stellar (XLMUSD) fell 6.33% to $0.1983.

The majors held up a little better but still leaned red. Bitcoin slipped 2.66% to $83,266.88 and Ether dropped 4.78% to $2,568.03. XRP shed 5.43% to $1.4146, Solana 4.05% to $115.75, Litecoin 4.98% to $65.51 and Chainlink (LNKUSD) 4.81% to $13.281. BNB was the most resilient large cap, down just 1.2% to $768.96.

The one-day picture masks a firmer month for several names: Tezos is still up 26.85% over 30 days and Graph up 40.1%, while Bitcoin holds a 6.17% monthly gain even after today.

Currencies

The dollar is the mirror image. The five biggest gainers are all USD crosses β€” USD/PLN up 0.66% to 3.90832, USD/CZK up 0.54% to 21.81, USD/DKK up 0.49% to 6.67479, USD/CAD up 0.30% to 1.42551 and USD/NOK up 0.15% to 9.56399.

That strength pressed the majors. EUR/USD fell 0.54% to 1.1191, now down 3.75% on the month, and GBP/USD eased 0.43% to 1.3208. AUD/USD lost 0.29% to 0.69589 and NZD/USD 0.41% to 0.5598. USD/JPY was the quiet one, down just 0.15% to 158.06 but still 3.01% higher over the month.

Metals and indices

The dollar bid came alongside a sharp pullback in metals. Platinum led the retreat, down 4.53% to $1,633.42, with palladium off 4.41% to $1,125.00 β€” now 16.29% lower on the month. Silver fell 2.5% to $59.78 and gold 1.35% to $4,109.93, trimming gold to a 2.45% gain on the year.

Equities opened softer but with less drama. The Nikkei 225 fell 1.51% to 69,626.25, though it remains 44.64% higher on the year, while the IBEX 35 lost 1.51% to 19,132.28. Wall Street held firmest: the S&P 500 eased 0.38% to 7,797.76 and the Nasdaq 100 just 0.27% to 31,154.19, both still green over the week.

Crypto and the platinum-group metals remain the session’s clear weak spots.