This week has been challenging for the cryptocurrency market. Bitcoin has stabilized around $62,000, but many altcoins have suffered significant losses.

Bitcoin at $62,000

The past week has been rough for Bitcoin. It fell to $63,000 as the week began, with prices dipping further mid-week. By Thursday, Bitcoin stabilized around $62,000. Its market cap decreased to $1.225 trillion, but dominance increased to 54.3%.

XRP and Other Altcoins Price Movements

XRP experienced a significant drop as the SEC filed an appeal regarding the asset's secondary sales. It fell by 15% but has slightly recovered to $0.53 now. Other major altcoins saw notable weekly declines, including DOGE (-13.7%), ADA (-11.4%), SHIB (-11.4%), DOT (-12.4%), and NEAR (-12.2%).

Overall Market Condition

The total cryptocurrency market cap lost over $150 billion at one point but has regained some value and now stands at $2.250 trillion.

The week ended with Bitcoin stabilizing, while altcoins continued to lose value, indicating a possible shift in investor interest away from riskier assets.