Bitcoin fell 3.88% over the past week as geopolitical tensions in West Asia triggered a swift weekend sell-off. The altcoin market also declined, but some tokens showed notable strength. Kaspa and DeXe were among the biggest weekly winners, while Uniswap, TRUMP, and OKB were prominent losers in a sector-specific downturn.
Bitcoin’s value declined 3.88% last week. The threat of escalation in West Asia and its impact on the global economy led to a swift sell-off over the weekend.
Since Saturday’s high of $71.1k, Bitcoin fell 3.5% within 24 hours. The altcoin market capitalization also shrunk 1.94% in the same period. Some altcoins enjoyed notable weekly performance despite wider crypto market fears, while others exhibited remarkable weakness.
Kaspa seized investor attention by breaking its 100-day moving average. The token noted a 19.5% rally for the week, with trading volume soaring above the 20-day average.
DeXe continued the explosive trend seen in the crypto AI sector, with an 18.62% move higher. Some other leading AI sector tokens were unable to maintain their pace, making DeXe’s relative strength even more notable.
Artificial Superintelligence Alliance and Quant were other winners, posting weekly gains of 16.55% and 12.6% respectively. FET bulls remain in a strong position so long as prices stay above a key level, while QNT challenged but did not overcome a $80 resistance.
Uniswap was down 12.4% for the week alongside DeFi sector weakness. Glassnode data showed the DeFi sector market capitalization was down 4.5% for the week, with UNI being its weakest leading token.
The Official Trump token was another prominent loser, down 20.51% for the week. The memecoin’s prices exploded after a conference announcement, but the longer-term bearish trend has asserted itself once more.
OKB, the OKX exchange token, continued to slide and fell 12.57% over the past week. The altcoin was down 31.9% from a recent $124.2 high despite news of a strategic investment.
Midnight continued its losing streak with a 16.6% weekly slide. Render and Internet Computer were other popular crypto AI tokens that fell flat, registering weekly losses of 10.37% and 9.66% respectively.
Bitcoin was trading in a value area and presented a short-term buying opportunity. If the price remains above the $65.6k local support, there is a chance of a recovery beyond $70k.
