Crypto markets turned lower heading into the weekend, with ether, XRP and dogecoin posting steeper losses than bitcoin as risk assets weakened across global markets. According to CoinDesk data, ether fell 5.6% over 24 hours to about $1,555 and was down 7.9% for the week. XRP dropped 4.9% to $1.03, extending its seven-day loss to 8.5%. Dogecoin slid 3.8% to $0.074 and was off 9.8% on the week. Solana held up better, trading at $68 with a weekly decline of just 1.2%.
Bitcoin briefly approached $58,000 before rebounding
Bitcoin also came under pressure, slipping close to $58,000 before recovering toward $60,000. It was trading around $59,888 at the time of the report, down 2.7% on the day and 4.5% over the week. Elsewhere, Hyperliquid’s HYPE fell 5.4%, while Tron was the only major gainer mentioned, edging up 0.4%. The price action left the market in a familiar position: bitcoin was still holding a level it has defended for nearly two years, while altcoins around it weakened at a faster pace.
Apple decline and chip weakness hit broader sentiment
The trigger again came largely from outside crypto. Global equities dropped to a two-week low after Apple shares fell 6.1% following news that the company raised prices on Macs, iPads and home devices. That move added to concerns that higher component costs could slow the memory-chip rally tied to the AI trade. In South Korea, the Kospi plunged as much as 9%, causing its second trading halt of the week, while both SK Hynix and Samsung fell more than 8%. Nasdaq 100 futures lost 1.5%. Brent crude also slipped below $74 a barrel; a projectile strike on a vessel in the Strait of Hormuz briefly revived supply concerns, but it did little to ease pressure across markets.
Large-holder selling adds to the pullback
Gabe Selby, head of research at CF Benchmarks, told CoinDesk by email that part of bitcoin’s retreat reflected large holders selling sizable amounts into a market that has been slow to absorb the extra supply. He also said much of the new money and investor attention has recently moved into AI-related trades, leaving crypto with a smaller share of overall risk appetite. In his view, the move looked like a broad market cooldown rather than a sign that something inside crypto had broken.
Selby said bitcoin had moved back into a zone that has historically limited deeper declines. He pointed to the $50,000 to $60,000 range as an area where buyers have stepped in before. Below that, he highlighted $55,000 as support to watch, while saying bulls need to reclaim $61,000 to $62,000. He also advised keeping position sizes sensible.