Bitcoin Sinks by 13%, Altcoins Get Battered as Trump Meets Putin, Zelenskiy: Your Weekly Crypto Recap

It has been a highly eventful, volatile, and mostly painful week for the cryptocurrency markets that started hours after our previous market update last ￰0￱ the time, BTC had retraced slightly since its ATH marked just days earlier, but was still holding strong above $120,000. However, US President Trump threatened China with a new wave of tariffs after saying its authorities had been lying, which sent shockwaves through the ￰1￱ dumped immediately to under $117,000, which opened the gates of leveraged hell to take ￰2￱ cascading effects of overleveraged positions getting forcefully closed resulted in a $19 billion wipeout and a massive BTC plunge to $101,000 (on Binance and a few more exchanges).

The altcoins were smashed even harder, with losses of up to 99% in some extreme ￰3￱ dust settled during the weekend, especially after reports that the tension between the two superpowers had ￰4￱ even went on the offensive and jumped to $116,000 mid-week, where it faced an immediate ￰5￱ the $110,000 support held at first, the bears continued to pressure the ￰6￱ gave in yesterday when Trump met with Russia’s Putin, with a price drop to $108,500. The landscape worsened over the past day, once again on another bloody ￰7￱ initiated another leg down that drove it south to just under $104,000. There was a brief bounce off to over $106,000 after Trump said the tariffs on China won’t stand, but that momentum has faded, and BTC is back at around $105,000 as of press ￰8￱ puts its weekly losses at over 13%.

While this might sound painful, because it is, the situation with many altcoins is a lot worse, with massive losses from the likes of DOGE (-27%), ADA (-25%), LINK (-27%), XLM (-22%), HYPE (-21.5%), and many ￰9￱ Data Weekly Market Overview:) | ETH: $3,770 (-13.4%) | XRP: $2.27 (-19.5%) This Week’s Crypto Headlines You Can’t Miss Extreme Fear Creeps Back Into the Crypto Market as Bitcoin Tanks by $20K in ￰10￱ overall market sentiment has changed a lot in the span of just over a week, which is seen by the Fear and Greed ￰11￱ metric was above 60 last week, which showed a state of greed, but it tumbled to multi-month lows of under 25 after the most recent ￰12￱ Labs Reportedly Leading $1B Fundraise for XRP ￰13￱ times where different companies are ramping up efforts to accumulate BTC, ETH, and a few other altcoins, Ripple Labs has reportedly began an initiative that will allow it to raise $1 billion through a SPAC to create a digital asset treasury focused on accumulating its own token, ￰14￱ All ETH Held by Companies Was Purchased in Past Quarter ￰15￱ of altcoins that have became the center of DAT accumulation, data emerged this week indicating that almost all of the ETH purchased by such companies has been accumulated in Q3 ￰16￱ Last Week’s Deleveraging Event a Necessary Reset for The Bitcoin Market?

Glassnode Weighs ￰17￱ Friday’s meltdown had a profound impact on the entire crypto industry, with multiple expers and observers rushing to offer their opinion on why it happened and what’s next. Glassnode, for instance, said it was a necessary reset due to the extremely high leveraged used by some ￰18￱ 10 Crash Exaggerated? Real Crypto Losses Just $2.31B (Analyst) . According to another report, the massive figures of $19 billion in liquidations during last week’s crash were highly ￰19￱ claimed that the actual value was just over $2.3 ￰20￱ Schiff Dismisses BTC’s ‘Digital Gold’ Status Following Recent ￰21￱ we know, Peter Schiff uses every possible opportunity to criticize BTC, and the crash from over $122,000 to under $105,000 allowed him to do so once ￰22￱ his latest bashing fest, the economist said this price correction invalidated BTC’s status as digital gold.