Bitcoin price has recovered from a five-week low, but several major altcoins have suffered double-digit weekly losses as the cryptocurrency market struggles to regain momentum.
Summary
- Bitcoin price recovered above $80,000 after falling to a five-week low near $79,100 on Saturday.
- Bitway led weekly altcoin losses with a 29.31% decline, followed by Rain and Hedera.
- Ethereum fell 3.41% over seven days, while Solana struggled to remain above $100.
- Pepe and MemeCore defied the market downturn, gaining 14.15% and 19.4% over the week.
- U.S. spot Bitcoin ETFs recorded approximately $773.5 million in combined outflows on October 22–23.
The crypto market has recorded another difficult week, with Bitcoin price falling below $80,000 on Saturday before recovering, while several altcoins lost more than 10% of their value.
According to crypto.news market data, Bitcoin price traded near $80,312 on Sunday, October 25, down 1.95% over seven days. Ethereum changed hands at $2,332, while Solana hovered around $101. Among the week’s worst performers were Bitway, Rain, Hedera, and Aave, although Pepe and MemeCore managed double-digit gains.
Bitcoin price recovers after falling to a five-week low
Bitcoin’s recovery has brought the price back above $80,000 after Saturday’s sell-off pushed it toward $79,100, its lowest level in approximately five weeks.
The cryptocurrency began the week struggling to clear $83,000 before briefly climbing toward $85,000 on Wednesday. Buyers failed to maintain that advance, and prices gradually retreated below $83,000, then $81,000, as the weekend approached.
Selling intensified on October 24, when Bitcoin price slipped below $80,000 and triggered liquidations across leveraged cryptocurrency positions. CoinGlass data showed approximately $546.88 million in liquidations over a 24-hour period, affecting more than 116,000 traders.
Subsequently, Bitcoin price rebounded toward $80,900 before encountering fresh selling pressure. Its market capitalization stood near $1.61 trillion on Sunday, with daily trading volume around $19.2 billion.
Institutional fund activity offered another indication of the week’s mixed trading conditions. U.S. spot Bitcoin ETFs recorded substantial net withdrawals on October 22 and 23, losing approximately $635.6 million and $137.9 million, respectively.
The withdrawals followed three consecutive inflow sessions totaling $1.07 billion. Despite the late-week reversal, the funds retained approximately $301.2 million in net inflows across the five trading days, based on Farside Investors’ reported figures.
Crypto market watch: worst-performing altcoins this week
The losses were particularly noticeable among mid-cap cryptocurrencies, where several tokens performed considerably worse than Bitcoin and Ethereum.
Bitway (BTW) recorded one of the week’s steepest declines, falling 29.31% to approximately $1.72. Rain (RAIN) lost 13.89% to trade near $0.0081, while Hedera (HBAR) dropped 13.47% to $0.0767.
Decentralized finance tokens were among the casualties. Morpho (MORPHO) declined 13.06%, while Aave (AAVE) fell 11.65% to approximately $136.
Avalanche (AVAX) shed 9.68% to $8.83, and NEAR Protocol dropped 9.42% to $4.45. Quant declined 8.09%, Bittensor lost 7.26%, and Polkadot traded near $1.03 after falling 7.21% during the week.
The selling was not confined to one category of cryptocurrencies. Blockchain infrastructure projects, lending protocols, and several established altcoins all recorded losses, although the size of those declines differed substantially.
Ethereum price and top 10 cryptocurrencies remain mixed
Ethereum’s price fell 3.41% over seven days, trading at approximately $2,332 on Sunday. The second-largest cryptocurrency remained below $2,400 following another week of selling.
Solana slipped 2.81% to $100.93, while Cardano dropped 7.17% to $0.2042. Chainlink lost 5.27%, changing hands near $11.37.
XRP showed more stability, trading around $1.30 with a marginal weekly loss of 0.09%. BNB gained 2.24% to $737.12, making it one of the better-performing major cryptocurrencies.
Among the top 10 cryptocurrencies by market capitalization, Zcash recorded a 7.51% weekly increase, reaching approximately $1,209.
The gain coincided with preparations for the Zcash NU7 network upgrade, expected around November 5. The Zcash Foundation released Zebra 7.0.0 on October 22, introducing support for planned consensus changes, including a reduction in target block times from 75 seconds to 25 seconds.
Pepe and MemeCore defy the weekly altcoin sell-off
Despite widespread losses, a small group of cryptocurrencies managed to finish the week with gains.
Pepe (PEPE) climbed 14.15% over seven days, trading around $0.0000044. Its market capitalization stood near $1.86 billion, with daily trading volume exceeding $330 million.
MemeCore (M) performed even better on the weekly chart, gaining 19.4% to approximately $0.92. However, the token suffered a daily decline approaching 20%, showing substantial volatility despite its positive seven-day performance.
Monero (XMR) gained 3.82%, trading near $605. Its advance placed it alongside BNB and Zcash among the relatively few established cryptocurrencies posting weekly gains.
Bitcoin’s next major price hurdle remains around $82,368, corresponding to its 20-day simple moving average in an October 25 technical assessment. A recovery above that level would bring the $84,725 area into focus, while a renewed decline below $80,000 could expose support around $78,000.
Glassnode’s October market assessment identified buying activity around $80,000–81,500 following the October 15 decline. The analytics firm’s estimates placed the average cost basis of U.S. spot ETF holdings and corporate Bitcoin treasuries within that region.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.