Key Takeaways
- BTC declined to $59,200 before bouncing back to approximately $60,700, marking a 5.4% weekly decline
- Major altcoins including Ethereum, XRP, Solana, Dogecoin, and HYPE suffered significant weekly losses; Tron emerged as the sole winner
- Micron surged approximately 15% following exceptional earnings results, propelling Nasdaq 100 futures up 1.8%
- Qualcomm revealed data center expansion plans, projecting $15 billion in additional AI-driven revenues
- Market experts caution that Bitcoin’s proximity to its 200-week moving average signals potential extended bearish period
Bitcoin plunged beneath the $60,000 threshold this week amid mounting ETF withdrawals and Federal Reserve hawkishness, while artificial intelligence stocks experienced a sharp rebound following Micron’s impressive quarterly performance.
Bitcoin Tumbles as Broader Crypto Market Bleeds
BTC descended to approximately $59,200 during Wednesday’s session before staging a modest recovery toward $60,700 by Thursday. The digital asset remained down 2.9% over 24 hours and 5.4% across the weekly timeframe, based on CoinDesk market data.
Altcoins experienced even steeper declines. Ethereum retreated 2.8% to $1,616, accumulating a 7.9% weekly loss. XRP descended to $1.07, shedding 9.2% over seven days. Solana declined to $68.
Dogecoin and Hyperliquid’s HYPE token suffered the most severe weekly drawdowns at 11.9% and 11.7% respectively. Tron stood alone among major cryptocurrencies with positive performance, gaining 1.9% for the week.
Alex Kuptsikevich, FxPro’s chief market analyst, identified three primary headwinds: persistent withdrawals from U.S. spot Bitcoin ETFs, the Federal Reserve’s restrictive monetary policy stance, and a U.S. dollar that reached seven-month highs.
A strengthening dollar typically raises Bitcoin’s cost for international investors and redirects capital away from higher-risk investments.
Kuptsikevich highlighted Bitcoin’s current position near its 200-week moving average as particularly concerning. Historical precedent shows the previous three occasions Bitcoin tested this technical level preceded extended weakness: approximately nine months in 2015, six months in 2018, and roughly six quarters following the 2022 collapse.
FxPro’s analysis suggests this pattern indicates a potential prolonged crypto winter scenario rather than a swift recovery.
The analyst identifies $61,800 to $62,000 as the critical resistance zone to monitor. Should Bitcoin fail to reclaim this level, $55,000 represents a reasonable downside target for the cycle low. Kuptsikevich recommended traders prioritize capital preservation over directional speculation.
Micron and Qualcomm Power AI Stock Surge
While digital assets faltered, technology equities experienced robust gains. Micron surged approximately 15% during premarket hours after delivering quarterly earnings that substantially exceeded Wall Street projections. The company’s forward guidance similarly outperformed expectations, signaling robust demand for memory semiconductors powering artificial intelligence infrastructure.
Nasdaq 100 futures climbed 2.2% while S&P 500 futures advanced 0.8%. Dow Jones futures posted modest gains of 0.1%.
Qualcomm contributed additional momentum to the tech rally. The semiconductor giant unveiled strategic initiatives to enter data center markets with new chip architectures and server solutions, projecting $15 billion in incremental AI-focused revenue streams. Its shares surged over 12%.
The technology sector’s strength failed to translate into cryptocurrency market support. Digital assets are now declining based on independent fundamental challengesāprimarily ETF capital flight and diminished investor appetiteāthat equity market recoveries cannot address.
Investors now await Thursday’s Personal Consumption Expenditures data release, the Federal Reserve’s preferred inflation metric, for insights into future monetary policy trajectory.
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