Market Turmoil Hits Crypto: Ether, XRP, Dogecoin Fall as Tech Stocks Retreat

Bitcoin briefly dipped toward $58,000 before rebounding, with CF Benchmarks highlighting the $50,000–$60,000 range as a historically reliable zone where buying interest tends to emerge.

Heading into the weekend, ether, XRP, and dogecoin spearheaded a broad crypto decline, underperforming bitcoin as a fresh selloff in tech stocks weighed on risk assets globally.

Ether fell 5.6% over the past day to around $1,555, bringing its weekly losses to 7.9%—the steepest among major cryptocurrencies, according to CoinDesk data. XRP dropped 4.9% to $1.03, marking an 8.5% weekly decline, while dogecoin slid 3.8% to $0.074, down 9.8% over seven days. Solana fared relatively better at $68, with a modest 1.2% weekly dip.

Hyperliquid’s HYPE token declined 5.4%, whereas Tron bucked the trend with a 0.4% gain. Bitcoin, after testing the $58,000 level, recovered toward $60,000 and was last seen near $59,888—down 2.7% on the day and 4.5% for the week.

The downturn was largely driven by macroeconomic pressures rather than crypto-specific factors. Global equities dropped to a two-week low after Apple shares fell 6.1% following price increases across its product lineup, raising concerns that rising costs could slow the AI-fueled rally in semiconductor stocks.

South Korea’s Kospi index plunged as much as 9%, triggering its second trading halt of the week, as major chipmakers SK Hynix and Samsung each fell over 8%. Nasdaq 100 futures slipped 1.5%, while Brent crude dipped below $74 per barrel, offering limited relief despite brief supply concerns tied to an incident in the Strait of Hormuz.

Crypto markets also faced internal selling pressure. CF Benchmarks’ head of research, Gabe Selby, noted that part of bitcoin’s decline stemmed from large holders offloading significant amounts into a market that has struggled to absorb the added supply.

Selby added that investor focus and capital have increasingly shifted toward AI-related opportunities, leaving crypto competing for a smaller slice of overall risk appetite. He characterized the move as a broader market cooldown rather than a breakdown in crypto fundamentals.

He emphasized that bitcoin has once again entered the $50,000–$60,000 range, which has historically acted as a support zone during corrections.

For now, the market remains in a familiar pattern: bitcoin holding above a key level it has maintained for nearly two years, while altcoins continue to lag. Selby identified $55,000 as the next key support and $61,000–$62,000 as the resistance zone bulls must reclaim, advising traders to manage risk carefully.

Overall, the narrative remains consistent—crypto is reacting to a broader tech-driven selloff, with limited internal catalysts as capital continues rotating into AI-focused investments.