The global cryptocurrency market shook last week as major tokens experienced steep price slides—Bitcoin, Ethereum, Dogecoin, Ripple, and the Pi Network were among those bearing the brunt. Despite a mild recovery in the last 24 hours, the overall market tone remains sharply bearish.
Bitcoin and Ethereum Dip Deep
Bitcoin, the world’s leading crypto asset, tumbled over 4% in the past seven days—falling below the crucial $115,000 support level. This drop triggered mass liquidations, with over $713 million in long positions wiped out, mostly on exchanges like Binance and OKX.
Ethereum, the second-largest crypto, lost around 10%, aligning with its typical high-correlation volatility. Analysts warn of a test toward $93,000 if key technical support fails.
Ripple & Dogecoin: Meme Coins Face Challenge
Ripple (XRP), once famed for strong gains, saw a 7% weekly drop. Meanwhile, Dogecoin—once boosted by Trump-era hype—crashed about 18%, making it the worst-performing top-tier token over the week.
Pi Network’s Dramatic Free Fall
Pi Network (PI), touted as a “Bitcoin successor,” has plummeted even more: 20–22% in the last 48 hours, and nearly 74% since its all-time peak earlier this year. It briefly recovered to $0.36, down from highs of $1.65, but continues to hover near a critical low of $0.32.
Experts attribute PI’s crash to massive token unlocks—over $68 million in new tokens flooding the market in August—and persistent bearish technical indicators like ADX and CMF signaling strong selling behavior.
Macro Triggers: Trade Tensions & Interest Rate Caution
Investors are pulling back from crypto amid macroeconomic uncertainties—notably new U.S. tariffs and dovish signals from the Federal Reserve. These factors heightened risk-off sentiment, pushing speculative assets lower.
This week’s crypto sell-off highlights the ongoing volatility and risks in the digital asset ecosystem. Tokens like Pi, lacking major exchange listings and with heavy token release schedules, are especially vulnerable. While technical analysis points to possible further downside, Bitcoin and Ethereum may find near-term stability if broader market risk sentiment improves.
