Dogecoin and Hyperliquid’s HYPE led this week’s losses across major crypto assets, with both posting declines close to 10%. Capital continued to favor equities tied to the artificial intelligence boom, leaving leading tokens under pressure.
Over the past seven days, Dogecoin fell 9.6% to about $0.076, while HYPE dropped 9.9%, making it one of the weakest large crypto names of the week. Ether lost 8.4% and traded near $1,581. XRP was down 7.8% at $1.06. Solana and TRON held up better by comparison, trading around $72 and $0.32 on a weekly basis.
Bitcoin bounced after slipping below $59,000
CoinDesk data showed Bitcoin falling to roughly $58,800 on Friday before recovering. By Saturday, it was trading near $60,345, down 5.3% over seven days. That made Bitcoin relatively steadier than many major altcoins, even as intraday volatility remained sharp.
Alex Kuptsikevich, chief market analyst at FxPro, told CoinDesk that Bitcoin approached $58,000 late Thursday and again early Friday. Both times, aggressive buying quickly pushed the price back into the $60,000 range. He said the pattern resembled margin-position liquidations during the selloff, followed by strong demand from resting buy orders during the rebound.
Institutional sentiment weakens as leveraged pressure stays in place
Kuptsikevich also said sentiment among institutional investors has deteriorated, while their ability to sell crypto quickly in order to preserve balance-sheet quality remains a source of pressure. In that setting, leveraged traders can keep weighing on the market, with periodic bursts of selling still possible.
Equity rotation continues, but crypto is not benefiting
The contrast with stocks remained a central market theme. Wall Street has not fully exited risk assets; instead, money has been rotating away from semiconductor manufacturers that had led the rally and into a broader set of companies seen as offering steadier growth. The S&P 500 finished little changed, but most of its components advanced, and the equal-weighted index excluding the dominance of the largest names reached a record high.
Lower oil prices helped support sentiment, while semiconductor stocks weakened again after running toward quarterly highs. The report said optimism around AI is now being tempered by concerns that valuations became too stretched. Few investors appear to believe the AI trade is over, but the idea that those shares only move higher has started to fade. Money leaving semiconductors is not the same as money leaving risk markets altogether; it is spreading across the wider market, and crypto has not been part of that flow.
ETF outflows, hawkish Fed policy and a firm dollar weigh on crypto
Crypto-specific headwinds also remain in place. Outflows from U.S. spot Bitcoin ETFs, a hawkish Federal Reserve stance, and a strong dollar pressured the market throughout the week. Even so, Bitcoin is still holding above its 200-week moving average, a level that has repeatedly aligned with extended bearish phases in the past.
Risk appetite has not disappeared. It has become selective, and for now crypto is being left out.