Bitcoin just had its worst week since the FTX meltdown, dropping about 17.3%. The broader selloff hit Ether even harder — it fell roughly 22%, its steepest weekly loss in years. All told, the crypto market lost roughly $390 billion in value over the past seven days.
The numbers
Bitcoin slid below $60,000 during the week before bouncing back. It's now trading near $61,300. That's still a brutal stretch for a market that had been riding relatively calm for months. The 17.3% weekly drop is the biggest since the FTX collapse in 2022.
Ether's bigger drop
Ether's 22% decline stands out even more. The second-largest crypto by market cap hasn't seen that kind of weekly damage in years. No single reason has emerged — it's a broad risk-off move that hit crypto harder than most other assets.
Market cap wiped out
Nearly $400 billion in market value evaporated in a matter of days. That's roughly the size of the entire crypto market in 2020. The rout erased gains accumulated over the past few months and left traders nursing heavy losses.
Recovery, for now
Bitcoin managed to claw back above $60,000 by the end of the week, settling around $61,300. Whether that holds is anyone's guess. The next few days will show if this is a bottom or just a pause before another leg down.
