Bitcoin and Ethereum Face Worst Week Since FTX Collapse

The cryptocurrency market lost about $390 billion in a week, with BTC and ETH facing major declines.

The cryptocurrency market shed approximately $390 billion in capitalization over the week, with Bitcoin and Ethereum poised for their largest decline since November 2022. BTC has dropped more than 17%, while ETH is down about 22%, as investors continue to withdraw funds from ETFs and reallocate capital to the AI sector.