Bitcoin Drops Below $84K As Altcoins Struggle

BTC Fails To Break Through Resistance
Bitcoin saw positive momentum earlier in the week, peaking near $89,000 on Monday. However, it couldn’t break through resistance and consolidated between $86,000 and $88,000 before dropping below that range on Friday.

It then fell to $83,500, losing all gains for the week and currently sits just under $84,000, with a market cap of $1.665 trillion. BTC’s dominance, however, has risen to 59.1%.

Source: TradingView

Altcoins Struggle
Ethereum fell below $1,900 after hitting $2,100 earlier this week, while XRP dropped another 4%, staying below $2.15.

Other altcoins like BNB, SOL, and ADA also saw losses, with SUI and TON dropping over 6%. The total crypto market cap now stands at $2.810 trillion, down nearly $200 billion from this week’s peak.

Other Markets

Stocks continued their downward slide this week, with the S&P 500 dropping another 2% on Friday after President Trump imposed tariffs on imported vehicles, further weakening the dollar and stirring uncertainty in the markets. U.S. employers are also slowing down hiring as the tariff policy clouds the economic outlook.

Meanwhile, the Czech Republic is bracing for a cold snap as temperatures across Europe are expected to plunge, and Europe’s gas sector faces a critical moment after winter drained reserves. In the equity markets, Hong Kong has surpassed India in share sales this year, marking the first time since 2021.

On the production front, United Co. Rusal continues aluminum output at its plants, while commodity traders are still making billions, despite a slowdown in profit growth. In Lebanon, Iraq has granted a six-month exemption for fuel supplies, and a recent earthquake in Myanmar has claimed 1,644 lives, with foreign rescue teams arriving to aid in the aftermath.