Bitcoin and Ether Face Biggest Weekly Drop Since FTX Collapse as Crypto Market Loses $390 Billion
Bitcoin and ether were set for their steepest weekly decline since the FTX collapse as the broader crypto market shed about $390 billion in value. The pullback has affected major tokens across the sector.
What happened?
Bitcoin and ether were set for their steepest weekly decline since the FTX collapse as the broader crypto market shed about $390 billion in value. The pullback has affected major tokens across the sector.
Why it matters
Bitcoin and ether were heading toward their worst weekly performance since the collapse of FTX, as the broader cryptocurrency market lost roughly $390 billion in value, according to CoinDesk.
Bitcoin and ether were heading toward their worst weekly performance since the collapse of FTX, as the broader cryptocurrency market lost roughly $390 billion in value, according to CoinDesk.
The decline has put pressure on the two largest digital assets by market value, with both under broad selling pressure throughout the week. The report said the downturn has extended across the crypto market rather than being limited to a single token.
The move marks one of the sharpest stretches of weakness for crypto since the industry’s last major crisis. Bitcoin and ether have been central to the pullback as traders responded to the broader market selloff.
CoinDesk reported that the total market value lost over the week reached about $390 billion, underscoring the scale of the rout across digital assets.