Bitcoin and Ether post worst weekly losses since FTX collapse, wiping out hundreds of billions
By
Krisztian Sandor
5d ago· 4 min readenNews
85/100
Golden Brown
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Score85TypenewsSentimentvery negative
Summary
Bitcoin and Ether suffered their largest weekly drops since the FTX crash in November 2022, with BTC falling 17.3% and ETH dropping 22%. The selloff wiped out hundreds of billions from crypto markets, triggered in part by Strategy's bitcoin sale. Both assets stabilized modestly near lows, with BTC around $60,000 and ETH near $1,550.
Key quotes
· 3 pulledCrypto investors endured one of their toughest week in years as a wave of selling wiped out hundreds of billions of dollars from digital asset markets.
Bitcoin fell 17.3% this week while ether (ETH) dropped 22%, putting both assets on track for their largest weekly declines since November 2022.
Despite a modest stabilization on Saturday, both assets remained near their lows, with BTC trading just above $60,000 and ETH changing hands around $1,550.
A week that began with Strategy's bitcoin sale ended with one of the largest crypto market drawdowns in years.
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