Bitcoin Slips 4.38% and Ethereum Drops 7% in Negative Crypto Week
Cryptocurrency markets finished the week in negative territory as Bitcoin dropped 4.38% to $78,006 and Ethereum tumbled nearly 7% to $2,226. Major stablecoins remained stable.
The digital asset market wrapped up a decidedly negative week, with major cryptocurrencies posting broad declines across the board. Bitcoin, the dominant market leader, retreated 4.38% over the week, while Ethereum, the second-largest digital asset, suffered an even steeper drop of nearly 7%.
Bitcoin is currently trading at $78,006.30, maintaining a massive market capitalization of $1.57 trillion despite the downward pressure. This robust valuation underscores its sustained dominance in the crypto sector even during bearish cycles.
Ethereum posted the weakest performance among the tracked assets, plunging 6.94% weekly to $2,226.67. Its market capitalization now stands at $272.58 billion, marking the most significant correction on the list in both percentage terms and relative to Bitcoin.
Ripple also failed to escape the negative momentum, shedding 5.52% to trade at $1.2554 with a market capitalization of $79.10 billion, marking the second-largest decline after Ethereum. Meanwhile, Binance Coin slipped 5.12% to $706.50, bringing its market capitalization to $92.81 billion.
In contrast, major stablecoins demonstrated extreme resilience with negligible price fluctuations. Tether dipped a mere 0.01% to $0.9987, maintaining a massive market capitalization of $180.23 billion as the third-largest asset reviewed. USDC edged down 0.02% to $1.0013, with a market capitalization of $71.30 billion.
