Ether, XRP, and dogecoin experienced a significant selloff, falling more sharply than bitcoin, as a global downturn in technology stocks impacted risk assets across the board.
Bitcoin briefly dipped to around $58,000 before rebounding, with CF Benchmarks indicating that the $50,000 to $60,000 range is historically a point where buyers tend to enter the market.
By Shaurya Malwa Jun 26, 2026, 5:41 a.m. 2 min read
- Major cryptocurrencies, particularly ether, XRP, and dogecoin, have seen sharper declines compared to bitcoin as tech stocks faced a selloff.
- Analysts suggest that bitcoin's drop is partially due to large holders liquidating assets in a market where risk appetite is decreasing as investors shift focus to AI-related stocks.
- Bitcoin remains in a crucial support range of $50,000 to $60,000, with significant levels at $55,000 below and $61,000 to $62,000 above, while altcoins are declining at a faster pace.
As the weekend approached, ether, XRP, and dogecoin saw notable declines, with ether falling 5.6% in 24 hours to approximately $1,555, marking a 7.9% decrease over the week, which is the largest drop among major cryptocurrencies, according to CoinDesk data. XRP decreased by 4.9% to $1.03, resulting in an 8.5% weekly loss. Dogecoin dropped 3.8% to $0.074, down 9.8% over the past week, whereas solana fared slightly better at $68, with a 1.2% decline for the week.
Hyperliquid's HYPE fell by 5.4%, while Tron was the only cryptocurrency to record a gain, up by 0.4%. Bitcoin, after dipping close to $58,000, recovered to around $59,888, reflecting a 2.7% drop for the day and a 4.5% decline for the week.
External pressures contributed to this situation, as global stock markets fell to a two-week low following a 6.1% drop in Apple shares, triggered by price hikes on Macs, iPads, and home devices, raising concerns that rising component costs might hinder the AI-driven memory chip rally.
In South Korea, the Kospi index plummeted as much as 9%, leading to its second trading halt of the week, with prominent chipmakers SK Hynix and Samsung both experiencing declines exceeding 8%. Nasdaq 100 futures also fell by 1.5%. Additionally, Brent crude oil prices dropped below $74 per barrel, influenced by a projectile strike on a vessel in the Strait of Hormuz, which briefly reignited supply concerns.
The crypto market's specific selling pressure added to the overall trend. Gabe Selby, head of research at CF Benchmarks, noted that part of bitcoin's retreat stems from large holders offloading significant amounts into a market that is struggling to absorb the additional supply. He remarked that much of the new capital and investor interest has shifted towards AI investments, leaving cryptocurrencies competing for a reduced share of risk appetite. He characterized the current movement as a general market cooldown rather than a reflection of any fundamental issues within the crypto sector.
Selby emphasized that the current price zone is historically significant for halting bitcoin's declines. "Bitcoin has retraced into the $50,000 to $60,000 zone today, and if history is any indicator, this is where buyers typically step in," he stated.
This places the market in a familiar position, with bitcoin relying on a level it has maintained for nearly two years while altcoins weaken more rapidly. Selby highlighted $55,000 as a critical support level to monitor below and $61,000 to $62,000 as the target for bullish momentum, suggesting that traders should manage their position sizes wisely.
The overall sentiment remains consistent with observations from recent days: cryptocurrencies are declining due to a tech sector selloff that originated outside the crypto market, with minimal internal catalysts to boost prices while capital continues to flow into AI sectors.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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