Bitcoin and Ether Plunge in Worst Week Since FTX Collapse
Bitcoin, ether eye worst weekly rout since FTX collapse as cryptos shed $390 billion
Bitcoin and ether were on track for their steepest weekly declines since the collapse of FTX, as a broad selloff wiped about $390 billion from the cryptocurrency market.
The move underscored how quickly risk appetite can evaporate across digital assets, with losses spreading beyond the largest tokens into the wider market. A drawdown of this size in a short period highlights the sector’s continued sensitivity to shifts in sentiment and liquidity.
The comparison to the period following FTX’s failure matters because that episode marked one of crypto’s most severe confidence shocks in recent history. Weekly losses approaching that scale signal a stress test for the market’s resilience, even in the absence of a single, identified catalyst in the information provided.
While bitcoin and ether often act as bellwethers for the broader market, the aggregate decline indicates that the downturn was not limited to one segment. When total market capitalization falls sharply, it can affect everything from exchange volumes and derivatives positioning to lending conditions and collateral values across the ecosystem.
The week’s rout adds to a recurring pattern in crypto markets: large, rapid moves that can reprice risk across tokens simultaneously. In practical terms, it serves as a reminder that crypto remains a volatile asset class, where marketwide losses can accumulate quickly even after periods of relative stability.
