Bitcoin Erases Post-Trump Election Gains, Altcoins Crash by Double-Digits: Your Weekly Crypto Recap
The previous few weeks have been something however boring within the cryptocurrency markets. Unfortunately for the bulls, it’s not of their favor.
It all started final Saturday. Bitcoin had lastly recovered some floor following the earlier crash to $81,000 and stood round $83,000-$84,000, which was slightly uncommon as the 2 largest treasured metals – belongings identified for his or her stability – crashed on Friday by double digits.
This heightened volatility reached BTC on Saturday when it dumped from $84,000 to below $76,000. The bulls tried to intervene, however all they may do was assist BTC get better barely to $79,000. The asset was rapidly rejected there and dipped beneath $74,000 on Monday. The identical failed rebound state of affairs repeated, and the bears took full management of the market within the following days.
The fruits, a minimum of for now, transpired yesterday. Another brutal sell-off drove the most important digital asset right down to $60,000. As such, BTC not solely erased all positive factors charted after Trump’s reelection victory in late 2024, but it surely truly dumped to below the degrees from again then. Strategy’s bitcoin positions went deep within the pink because the cryptocurrency dropped by $30,000 in simply over every week.
The causes behind this calamity might differ and are nonetheless debated by analysts. From rising geopolitical tensions to the brand new Fed Chair to extreme leverage within the markets. The truth is, although, the general crash on Thursday alone wiped out greater than $2.6 billion in leveraged positions.
Despite rebounding to $67,000 as of press time, BTC continues to be almost 20% down weekly. Many altcoins have produced much more important declines, equivalent to ETH (-28%), BNB (-23%), LINK (-21%), XMR (-26%), and others. HYPE, then again, continues to defy the general development and has soared by 19% inside the identical timeframe.
Market Data
Market Cap: $2.38T | 24H Vol: $360B | BTC Dominance: 56.6%
BTC: $67,200 (-18.4%) | ETH: $1,950 (-28.3%) | XRP: $1.43 (-20%)
This Week’s Crypto Headlines You Can’t Miss
Institutional Exit? US Investors Are Dumping ETH at a Record Rate. Even earlier than Ethereum’s most important decline to below $1,800, stories claimed that US-based traders had intensified the promoting strain, which was evident from the declining ETH Coinbase Premium Index.
Roubini Predicts a ‘Crypto Apocalypse’ Amidst Bitcoin’s Plunge Under Trump-Era Policies. These occasions of pure uncertainty and worth calamity are the proper alternative for trade haters, equivalent to Nouriel Roubini, to lash out once more. Recently, the economist predicted a “crypto apocalypse,” explaining that the evolution of cash and funds can be a gradual course of, as a substitute of the fast revolution promised by crypto advocates.
Michael Burry Warns Bitcoin Treasury Firms Face Existential Risk as BTC Slide Deepens. Michael Burry additionally spoke out after years of silence, warning that Bitcoin Treasury Companies may quickly face liquidation threats if the cryptocurrency’s worth declines proceed.
Crypto Winter Has Been Here Since January 2025, But Recovery May Be Closer Than You Think. Despite the a number of new all-time highs registered by BTC final 12 months earlier than October, Bitwise’s CIO, Matt Hougan, not too long ago asserted that the asset has been in a bear market since January 2025. More optimistically, although, he famous that the top could also be nearer than you count on.
Tom Lee Shrugs Off ETH Sell-Off, Says Fundamentals Don’t Match Falling Prices. Tom Lee, who has maybe the most important publicity to ETH by way of Bitmine, dismissed the current asset decline. Although Bitmine’s place is deep within the pink, Lee said ETH’s crashing worth doesn’t replicate the robust fundamentals behind the token and the community.
Bitcoin Trading at 41% Discount, Power-Law Model Shows $122K Fair Value. Basing their evaluation utilizing the power-law valuation mannequin, market commentator David put BTC’s truthful worth at slightly below $123,000. If true, this could imply that the cryptocurrency at present trades with an enormous low cost of roughly 50%.
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