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Bitcoin Price Suddenly Collapsed Below $64,000
Over the past week, the cryptocurrency market has experienced a sharp and synchronized decline in prices. Bitcoin ($BTC) fell to $63,982, marking one of its lowest levels in a long time. Bitcoin’s market capitalization dropped to $1.277 trillion, with a weekly decline of 23.95%.
Ether ($ETH) showed even weaker performance. The price of $ETH dropped to $1,872, while its market capitalization fell to $225.8 billion. Over the past 7 days, the second-largest cryptocurrency lost 33.18%, reflecting an accelerated decline in interest in altcoins from both retail and institutional participants.
Significant losses were also recorded among other major cryptocurrencies. BNB fell to $629 with a market cap of $85.87 billion, losing 26.79% over the week. XRP dropped to $1.17, and its market value decreased to $71.82 billion, representing a 34.13% decline over 7 days.
Solana (SOL) continued its downward movement and is trading at $79.92. Its market capitalization decreased to $45.2 billion, with a weekly drop of 31.87%. Dogecoin (DOGE) lost 23.2% over the week with a market cap below $15 billion, reflecting weakening speculative demand.
Cardano ($ADA) recorded a 23.12% decline over 7 days. The price of $ADA fell below $0.25, and its market cap dropped to $8.93 billion. Bitcoin Cash (BCH) appears relatively more resilient but still recorded a 16.01% decline, falling to $466.25 with a market valuation of $9.32 billion.
Among other assets, Monero (XMR) suffered significant losses, with prices collapsing by 33.82%, while UNUS SED LEO fell by 25.06%. Hyperliquid (HYPE) increased by 0.33% over the same period and is trading around $32.5, although the overall market trend remains sharply negative. Notably, Tron (TRX) recorded relatively minor losses of 7%, and Canton (CC) fell by 8.5%.
Current data indicates a large-scale correction with no clear signs of stabilization. Most leading cryptocurrencies lost between 20% and 35% over the week, increasing concerns among market participants.
