Bitcoin (Bitcoin) fell this week after another failed attempt to break the $72,000 level. The decline dragged down the broader cryptocurrency market, while some small tokens moved against the broader trend.
summary
- Bitcoin fell from $72,000 to $65,500 in 48 hours as sellers regained control across exchanges.
- Ethereum fell below $2,000, BNB stabilized near $610, and XRP remained below $1.35 amid weakness.
- SIREN shares jumped more than 100% in one day, even as the cryptocurrency market lost $60 billion.
Bitcoin started the week Under pressure After it failed to clear the higher resistance levels. The asset had already lost momentum near $76,000 the previous week and then traded around $70,000 over the weekend before falling to $67,500 on Monday as traditional markets reopened.
Later that day, Bitcoin rose to nearly $72,000 after US President Donald Trump said the US and Iran had reached a de-escalation agreement. That move did not last. Iran rejected this statement, and Bitcoin quickly fell to the $69,000 level.
Bitcoin returned to the $72,000 area on Wednesday, its weekly high. The sellers then regained control and pushed the asset to $69,000 by Friday. The decline continued into the weekend, taking Bitcoin to $65,500 on some exchanges, its lowest level since early March.
The move caused Bitcoin to drop by more than $6,000 within 48 hours. At the time of writing, the asset has recovered slightly and is trading at over $66,000, but is still showing a weekly loss of around 6%. Its market value fell to about $1.325 trillion, while its market share fell to less than 56%.
Large-cap altcoins track Bitcoin’s decline
Most cryptocurrencies with large market caps also declined during the same period. Ethereum Binance Coin price fell below the $2,000 mark, trading just above the $610 level. XRP It remains below $1.35 after testing resistance near $1.30 earlier in the week.
Weakness in major tokens has increased pressure on the overall market. The total cryptocurrency market capitalization has fallen by about $60 billion from Friday’s peak of near $2.37 trillion, showing that risk appetite remains weak across the sector.
However, SIREN was one of the few tokens to record sharp gains during the recent market decline. The AI-related token rose more than 100% in 24 hours and was trading above $1.60 at press time. However, it remains 50% below the all-time high of $3.60 reached earlier this week.
Other altcoins showed a mixed picture. AAVE fell 5%, while HASH lost 9% on the day. Bitcoin Cash and CC posted gains of more than 3%, making it a rare rally as most of the market remained under pressure.
Disclosure: This article does not constitute investment advice. The content and materials contained on this page are for educational purposes only.
