Crypto Market Under Pressure as Bitcoin Slips Below $63,500 Despite Weekly Gains
Bitcoin (BTC) fell 0.20% to $63,436, though it remains up 4.15% over the past week.
Ethereum (ETH) declined 0.05% to $1,671.65, but gained 5.73% on a weekly basis.
Despite the recent recovery, both cryptocurrencies remain under pressure, with Bitcoin down 19.98% over the past month and 27.49% YTD, while Ethereum has fallen 25.95% monthly and 43.66% YTD.
Among major altcoins, Cardano (ADA) gained 0.40% during the session and emerged as a top weekly performer with a 9.28% rise.
Solana (SOL) advanced 0.07%, while XRP added 0.14%.
Binance Coin (BNB) slipped 0.32%, though it remains up 5.63% over the week.
Cosmos (ATOM) was the standout performer, surging 20.86% weekly, despite a 1.60% decline in the latest session.
Uniswap (UNI) rose 0.59%, while Avalanche (AVAX) gained 0.11%.
Long-term performance remains weak across the crypto market:
Cardano: -35.36% (Monthly), -73.38% (YoY)
Polkadot: -28.53% (Monthly), -75.31% (YoY)
Avalanche: -31.92% (Monthly), -65.73% (YoY)
Polygon: -63.49% (YoY)
Uniswap: -55.35% (YTD), -67.66% (YoY)
Bitcoin's market capitalization stands at approximately $1.28 trillion, while Ethereum's market cap is around $263 billion, reinforcing their dominance in the digital asset space.
Overall, the market is witnessing a short-term rebound in select tokens, but sustained losses across monthly, YTD, and annual periods suggest investor sentiment remains cautious amid ongoing macroeconomic and liquidity concerns.
