Overall Market
Last week, the global crypto market experienced its biggest drop of the year. The total market capitalization fell by 8% to $2.4 trillion. President Trump announced the name of the next Federal Reserve Chairman, and his mention of plans for military action in Iran added to market uncertainty and created a “risk-off” mood among investors.
Bitcoin (BTC)
It was a tough week for Bitcoin. The price, which was around $77,000 at the start of last week, steadily declined throughout the week, falling to as low as $62,700 mid-week, but recovered somewhat at the end, closing at $71,000. Some traders see this as a cheap buying opportunity ahead of the next big surge, while others are cautious about the risk of continued price drops.
Ethereum (ETH)
Meanwhile, Ethereum’s price also weakened, falling by about 7% to around $2,100. For example, $166 million flowed out of U.S. ETH spot ETFs over the week, and as major market players aggressively sold their Ethereum, resistance zones collapsed one after another.
Altcoins and Memecoins
Solana fell 14% to $87, while major meme coins like Dogecoin, Shiba Inu, and Pepe also saw declines of 7–8%. Last week, the altcoin market suffered a sharp downturn, with the prices of major assets like Ethereum and Solana weakening significantly, and the prices of most other altcoins also plunging.
Policy and Regulation
Analysts see this market downturn as linked to President Trump’s nomination of Kevin Warsh as the next head of the Federal Reserve. His appointment, seen as a staunch monetary policy hawk and a cautious figure, has led investors to fear that policy rates will remain high for an extended period.
