Dogecoin and Hyperliquid’s HYPE led the week’s losses across crypto, falling nearly 10% as money continued to flow towards stocks linked to the artificial intelligence boom and away from major tokens.
Dogecoin fell 9.6% over seven days to around $0.076 and HYPE lost 9.9%, the steepest drop among the majors. Ether fell 8.4% to around $1,581 and XRP fell 7.8% to $1.06, while solana and tron fared better, roughly flat on the week at $72 and $0.32.
Bitcoin was the steadier major, down 5.3% to around $60,345 on Saturday after falling to around $58,800 on Friday and recovering, per CoinDesk data.
“Bitcoin approached $58,000 at its lows late Thursday and early Friday, but in both cases aggressive buying quickly pushed it back to the $60,000 range,” Alex Kuptsikevich, FxPro chief market analyst, told CoinDesk. “This pattern resembles margin liquidations during downtrend peaks, followed by strong purchases of pending orders during the upswing.”
“Given the deteriorating sentiment among institutional investors and their ability to quickly dispose of cryptocurrencies to stabilize their balance sheets, it is worth preparing for continued pressure and periodic sell-off surges from leveraged traders,” he added.
