Bitcoin faced a sharp pullback this week, dragging much of the crypto market lower after failing to break above a key resistance level. The leading cryptocurrency dropped from around $72,000 to nearly $65,500 in just 48 hours, signaling renewed selling pressure across exchanges.
The week started on a weak note, with Bitcoin already struggling to maintain momentum after being rejected near $76,000 in the previous week. Over the weekend, it hovered around $70,000 before slipping to $67,500 on Monday as traditional markets reopened.
Brief Rally Fades Quickly
A short-lived rally followed when Donald Trump announced that the United States and Iran had reached a de-escalation agreement. The news briefly pushed Bitcoin close to $72,000. However, the optimism didn’t last long. Iran denied the claim, and prices quickly reversed, falling back toward $69,000.
Sellers Take Control
Bitcoin attempted another move toward $72,000 midweek, marking its weekly high. But sellers stepped in once again, pushing prices down to $69,000 by Friday. The decline intensified over the weekend, with Bitcoin touching $65,500 on some exchanges—its lowest level since early March.
Overall, the asset lost more than $6,000 in just two days. At the time of writing, Bitcoin has slightly recovered and is trading above $66,000. Still, it remains down حوالي 6% for the week. Its market capitalization has dropped to roughly $1.325 trillion, while its dominance slipped below 56%.
Altcoins Mirror the Downtrend
Major altcoins followed Bitcoin’s lead, showing widespread weakness across the board. Ethereum fell below the $2,000 level, while BNB managed to hold just above $610. Meanwhile, XRP remained under $1.35 after failing to break higher earlier in the week.
The broader crypto market also took a hit, with total market capitalization dropping by about $60 billion from Friday’s peak to around $2.37 trillion. The decline highlights cautious sentiment and reduced risk appetite among investors.
SIREN Defies Market Trend
Despite the overall downturn, some smaller tokens managed to stand out. SIREN surged more than 100% in just 24 hours, trading above $1.60 at the time of reporting. Even with the sharp gain, the token remains over 50% below its recent all-time high of $3.60.
Elsewhere, the market showed mixed signals. Aave dropped around 5%, while HASH fell 9%. On the positive side, Bitcoin Cash and CC posted gains of more than 3%, standing out in an otherwise bearish market.
For now, traders appear cautious as Bitcoin struggles to regain strength, with the next moves likely to depend on whether it can reclaim key resistance levels or face further downside pressure.
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