Bitcoin prices have rebounded from a five-week low, but several major altcoins posted double-digit declines this week as the cryptocurrency market struggled to regain momentum.
According to market data from crypto.news, as of Sunday, October 25, Bitcoin’s price was approximately $80,312, down 1.95% over the past seven days. Ethereum traded at $2,332, and Solana hovered around $101. This week’s worst performers included Bitway, Rain, Hedera, and Aave, while Pepe and MemeCore posted double-digit gains.
Bitcoin rebounds after falling to a five-week low
Bitcoin dropped to nearly $79,100 on Saturday, reaching its lowest level in about five weeks, before rebounding and reclaiming the $80,000 level.
At the beginning of the week, Bitcoin struggled to break above $83,000, briefly reaching $85,000 on Wednesday, but buying pressure failed to sustain the upward momentum, causing the price to gradually decline and subsequently fall below both $83,000 and $81,000, continuing to weaken until the weekend.
On October 24, selling intensified, causing Bitcoin’s price to drop below $80,000 and triggering a cascade of leveraged crypto liquidations. According to CoinGlass data, approximately $546.88 million in positions were liquidated within 24 hours, affecting over 116,000 traders.
Subsequently, Bitcoin rebounded to approximately $80,900 but faced new selling pressure. Its market capitalization stood at around $1.61 trillion on Sunday, with daily trading volume reaching approximately $19.2 billion.
Institutional fund flows also reflect the market divergence this week. U.S. spot Bitcoin ETFs recorded significant net outflows on October 22 and 23, totaling approximately $635.6 million and $137.9 million, respectively.
Prior to this, these funds had recorded a combined net inflow of $1.07 billion over three consecutive trading days. Despite a reversal in the latter part of the week, data from Farside Investors shows that these funds still recorded a combined net inflow of approximately $301.2 million over five trading days.
This week's worst-performing altcoins
The decline has been particularly pronounced among mid-cap cryptocurrencies, with several tokens performing significantly worse than Bitcoin and Ethereum.
Bitway (BTW) was one of the week's biggest losers, dropping 29.31% to approximately $1.72. Rain (RAIN) fell 13.89% to around $0.0081, and Hedera (HBAR) declined 13.47% to $0.0767.
Decentralized finance tokens were also not spared. Morpho (MORPHO) fell 13.06%, and Aave (AAVE) dropped 11.65% to around $136.
Avalanche (AVAX) fell 9.68% to $8.83, and NEAR Protocol dropped 9.42% to $4.45. Quant declined 8.09%, Bittensor fell 7.26%, and Polkadot, down 7.21% this week, is trading at approximately $1.03.
The selling pressure was not limited to any one category of cryptocurrency. Blockchain infrastructure projects, lending protocols, and several established altcoins all experienced declines, though the extent of the losses varied.
Ethereum and the top ten cryptocurrencies show divergent performance.
Ethereum fell 3.41% over the past seven days, trading at approximately $2,332 on Sunday. This second-largest cryptocurrency by market cap remains below $2,400 following another week of declines.
Solana fell 2.81% to $100.93, Cardano dropped 7.17% to $0.2042, and Chainlink declined 5.27% to approximately $11.37.
XRP remained relatively stable at approximately $1.30, posting a weekly decline of just 0.09%. BNB rose 2.24% to $737.12, becoming one of the top-performing major cryptocurrencies.
Among the top ten cryptocurrencies by market cap, Zcash rose 7.51% this week to approximately $1,209.
This rally is related to preparations for the Zcash NU7 network upgrade, which is expected to occur around November 5. On October 22, the Zcash Foundation released Zebra 7.0.0, adding support for the planned consensus changes, including reducing the target block time from 75 seconds to 25 seconds.
Pepe and MemeCore rose against the market trend
Despite widespread market declines, a few cryptocurrencies ended the week higher.
Pepe (PEPE) rose 14.15% over the past seven days, trading at approximately $0.0000044. Its market capitalization is around $1.86 billion, with daily trading volume exceeding $330 million.
MemeCore (M) showed stronger weekly performance, rising 19.4% to approximately $0.92. However, the token declined nearly 20% on the day, indicating high volatility despite positive seven-day performance.
Monero (XMR) rose 3.82% to approximately $605. Like BNB and Zcash, it is one of the few established cryptocurrencies to record gains this week.
According to the technical analysis on October 25, Bitcoin’s next major resistance remains around $82,368, corresponding to its 20-day simple moving average. If the price reclaims this level, the $84,725 area will become the key focus; if it falls below $80,000 again, it may test the support level near $78,000.
Glassnode noted in its October market assessment that buying interest emerged in the $80,000 to $81,500 range following the decline on October 15. The analysis firm estimated that the average cost basis for U.S. spot ETF holdings and corporate Bitcoin treasuries also lies within this range.
Disclosure: This article does not constitute investment advice. The content and materials presented on this page are for educational purposes only.