It was a catastrophic week in terms of price movements, but HYPE has defied the trend and stands out as a top performer.
The past few weeks have been anything but dull in the cryptocurrency markets. Unfortunately for the bulls, it’s not in their favor.
It all began last Saturday. Bitcoin had finally recovered some ground following the previous crash to $81,000 and stood around $83,000-$84,000, which was rather unusual as the two largest precious metals – assets known for their stability – crashed on Friday by double digits.
This heightened volatility reached BTC on Saturday when it dumped from $84,000 to under $76,000. The bulls tried to intervene, but all they could do was help BTC recover slightly to $79,000. The asset was quickly rejected there and dipped below $74,000 on Monday. The same failed rebound scenario repeated, and the bears took complete control of the market in the following days.
The culmination, at least for now, transpired yesterday. Another brutal sell-off drove the largest digital asset down to $60,000. As such, BTC not only erased all gains charted after Trump’s reelection victory in late 2024, but it actually dumped to under the levels from back then. Strategy’s bitcoin positions went deep in the red as the cryptocurrency dropped by $30,000 in just over a week.
The reasons behind this calamity may vary and are still debated by analysts. From rising geopolitical tensions to the new Fed Chair to excessive leverage in the markets. The fact is, though, the overall crash on Thursday alone wiped out more than $2.6 billion in leveraged positions.
Despite rebounding to $67,000 as of press time, BTC is still nearly 20% down weekly. Many altcoins have produced even more significant declines, such as ETH (-28%), BNB (-23%), LINK (-21%), XMR (-26%), and others. HYPE, on the other hand, continues to defy the overall trend and has soared by 19% within the same timeframe.
Market Data
Market Cap: $2.38T | 24H Vol: $360B | BTC Dominance: 56.6%
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BTC: $67,200 (-18.4%) | ETH: $1,950 (-28.3%) | XRP: $1.43 (-20%)
This Week’s Crypto Headlines You Can’t Miss
Institutional Exit? US Investors Are Dumping ETH at a Record Rate. Even before Ethereum’s most significant decline to under $1,800, reports claimed that US-based investors had intensified the selling pressure, which was evident from the declining ETH Coinbase Premium Index.
Roubini Predicts a ‘Crypto Apocalypse’ Amidst Bitcoin’s Plunge Under Trump-Era Policies. These times of pure uncertainty and price calamity are the perfect opportunity for industry haters, such as Nouriel Roubini, to lash out again. Recently, the economist predicted a “crypto apocalypse,” explaining that the evolution of money and payments will be a gradual process, instead of the quick revolution promised by crypto advocates.
Michael Burry Warns Bitcoin Treasury Firms Face Existential Risk as BTC Slide Deepens. Michael Burry also spoke out after years of silence, warning that Bitcoin Treasury Companies could soon face liquidation threats if the cryptocurrency’s price declines continue.
Crypto Winter Has Been Here Since January 2025, But Recovery May Be Closer Than You Think. Despite the multiple new all-time highs registered by BTC last year before October, Bitwise’s CIO, Matt Hougan, recently asserted that the asset has been in a bear market since January 2025. More optimistically, though, he noted that the end may be closer than you expect.
Tom Lee Shrugs Off ETH Sell-Off, Says Fundamentals Don’t Match Falling Prices. Tom Lee, who has perhaps the largest exposure to ETH through Bitmine, dismissed the recent asset decline. Although Bitmine’s position is deep in the red, Lee said ETH’s crashing price doesn’t reflect the strong fundamentals behind the token and the network.
Bitcoin Trading at 41% Discount, Power-Law Model Shows $122K Fair Value. Basing their analysis using the power-law valuation model, market commentator David put BTC’s fair value at just under $123,000. If true, this would mean that the cryptocurrency currently trades with a massive discount of roughly 50%.
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