Dogecoin and Hyperliquid’s HYPE led the week’s crypto losses, falling nearly 10%, as money continued to flow into stocks linked to the artificial intelligence boom and away from major tokens.
Dogecoin slipped 9.6% over seven days to around $0.076 and HYPE lost 9.9%, the steepest decline among the majors. Ether fell 8.4% to around $1,581 and XRP fell 7.8% to $1.06, while Solana and tron held up better, roughly flat for the week at $72 and $0.32.
Bitcoin was the most stable major currency, down 5.3% to around $60,345 on Saturday after falling to around $58,800 on Friday and recovering, according to CoinDesk data.
“Bitcoin approached $58,000 at its low late Thursday and early Friday, but on both occasions aggressive buying quickly pushed it back into the $60,000 range,” Alex Kuptsikevich, chief market analyst at FxPro, told CoinDesk. “This pattern resembles liquidations of margin positions during downtrend peaks, followed by strong buying of pending orders during the rally.”
“Given the deterioration in institutional investor sentiment and their ability to quickly exit cryptocurrencies to stabilize their balance sheets, it is worth preparing for continued pressure and periodic selling spikes from leveraged traders,” he added.
