Bitcoin and Ether Face Steepest Weekly Losses Since FTX Collapse as Crypto Markets Drop $390 Billion

This week, the cryptocurrency sector saw one of its sharpest declines in recent years, with bitcoin and ether leading a widespread sell-off. The downturn began amid major bitcoin sales, including notable transactions by institutional holders. Over the course of the week, the total crypto market lost roughly $390 billion in valuation, according to source-aggregated figures.

Analysts point to a combination of macroeconomic uncertainty and profit-taking pressures driving the market retreat. This correction marks the steepest weekly drop in leading cryptocurrencies since the fallout from the FTX exchange collapse. The scale of this decline has reignited caution among traders and market observers, who are watching closely for further volatility or potential stabilization in the coming weeks.

While the full implications of this downturn remain to be seen, participants are encouraged to monitor ongoing developments, given the history of rapid sentiment shifts and price swings in the crypto space.