Rabat – Major cryptocurrencies extended their losses this week as broader market tensions and persistent selling pressure weighed on digital assets.
Bitcoin fell to around $62,900 today, down more than 2% on the day and roughly 7.5% over the past week. The world’s largest cryptocurrency has remained stuck between $60,000 and $70,000 since early February, struggling to build momentum in either direction.
The prolonged consolidation has left traders watching closely for a decisive move, but so far the market has failed to break out of its current range.
Other major tokens posted steeper declines. Ethereum traded near $1,829, marking an 8% weekly drop. XRP slid more than 10% over the same period, while Solana lost over 11%, and Dogecoin also recorded losses of nearly 10%.
The broader pullback reflects weakening demand for riskier digital assets, with investors appearing cautious amid shifting conditions in global markets.
Market data shows that selling pressure among alternative cryptocurrencies has reached levels not seen in several years.
Analysts say this type of sustained distribution can weigh on prices without triggering sharp liquidations or sudden rebounds. Instead of dramatic swings, the market has experienced a gradual decline, making it harder for short-term traders to identify clear entry points.
At the same time, sentiment across financial markets has been affected by renewed concerns surrounding AI and its potential economic impact.
A recent research note warning about possible disruption across sectors such as delivery, payments and software led to selling in several technology-related stocks.
While cryptocurrencies are not directly tied to those industries, they often move in response to broader shifts in investor risk appetite.
Bitcoin now sits about 48% below its October all-time high and remains below its 2021 peak of $69,000. The longer prices remain below those levels, the more attention shifts to whether support near $60,000 can hold.
Read more: $61 Million Bitcoin Bet Wiped Out as Market Fear Deepens
