The cryptocurrency market faced a turbulent week marked by volatility and global macroeconomic tensions and a cascade of forced liquidations. Bitcoin, the world’s largest digital asset, dropped below $104,000 on Friday after hitting an all-time high of $111,800 last week. The sharp pullback triggered over $600 million in liquidations—the largest single-day figure since February. The downturn followed US President Donald Trump’s move to double tariffs on Chinese steel and aluminum in 50%.
Ethereum mirrored the market-wide decline, falling 1.7% in the last 7 days, to $2,520.28. The second-largest cryptocurrency by market cap saw approximately $122 million in futures liquidations. At the same time, the long-term perspective kept steady inflows into spot Ethereum ETFs.
XRP also came under pressure, falling 9% to $2.14 after aroun than $30 million in long liquidations. The decline came even after the token garnered attention with Webus announcing plans to raise $300 million to integrate XRP into its global transportation payment network—an effort that includes on-chain booking and a Web3 loyalty system.
Solana registered a 13.43% decline during the entire week, retreating to $153.12. Analysts interpret the drop as a cash-out after strong gains in previous weeks.
Blockchain
In the NFT and metaverse space, OpenSea unveiled its upgraded OS2 platform, enabling token trading across 19 blockchains and paving the way for the anticipated launch of its SEA token. While crypto prices endured a setback this week, ongoing infrastructure development and institutional involvement suggest the sector continues to evolve beyond short-term market cycles.
