Dogecoin and Hyperliquid’s HYPE led the week’s losses in cryptocurrencies, falling nearly 10%, as money continued to flow into stocks linked to the rise of artificial intelligence and away from major tokens.
Dogecoin fell 9.6% in seven days to around $0.076 and HYPE lost 9.9%, the steepest declines 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 unchanged for the week at $72 and $0.32.
Bitcoin was the most stable major, falling 5.3% to around $60,345 on Saturday after falling to around $58,800 on Friday and recovering, according to data from CoinDesk.
“Bitcoin approached $58,000 at its lows late Thursday and early Friday, but in both cases, 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 the peaks of the downtrend, followed by strong buying in pending orders during the recovery.”
“Given deteriorating sentiment among institutional investors and their ability to quickly divest from cryptocurrencies to stabilize their balance sheets, it is worth preparing for continued pressure and periodic selling spikes from leveraged traders,” he added.
