Bitcoin News Today: Ethereum Dips 5% as Bitcoin Slides to 5-Day Low on Geopolitical and PPI Concerns

Bitcoin and leading altcoins experienced a sharp downturn over the weekend, with Ethereum leading the decline. Bitcoin briefly reached a new all-time high of $124,500 on Thursday before reversing direction and slipping to a five-day low near $117,500 by the weekend [1]. The price movement followed a Trump-Putin meeting that failed to produce a ceasefire agreement and the release of hotter-than-expected U.S. producer price index (PPI) data, which heightened market uncertainty [1].

Ethereum, the second-largest cryptocurrency by market capitalization, fell nearly 5% in 24 hours, with its price dropping well below $4,500 after reaching near $4,800 earlier in the week [1]. Other major altcoins also faced declines, with SOL, LINK, AVAX, SUI, and HYPE losing between 3% and 7% of their value. The only exception was MNT, which bucked the trend and surged by more than 10% [1].

The broader cryptocurrency market continued to contract, with the total market capitalization falling to $4.050 trillion—down $80 billion in just one day [1]. Bitcoin’s dominance, which represents its share of the total crypto market cap, rose to nearly 58%, indicating a shift of capital back toward the largest cryptocurrency [1].

The weekend’s volatility reflects ongoing uncertainty in the crypto space, with traders responding to macroeconomic signals and geopolitical developments. Bitcoin’s brief push toward a multi-week high earlier in the week was followed by a rapid pullback, suggesting a lack of strong follow-through buying [1]. Ethereum’s failure to break its 2021 all-time high highlights the fragility of current altcoin momentum.

Bitcoin’s price movements have remained highly volatile, with sharp upward and downward swings observed throughout the week. This behavior indicates that traders are still assessing the broader economic landscape, including inflation trends and central bank policy expectations [1].

Source: [1] Altcoins Crash Led by ETH's 5% Drop, BTC Slips to 5-Day Low: Weekend Watch (https://cryptopotato.com/altcoins-crash-led-by-eths-5-drop-btc-slips-to-5-day-low-weekend-watch/)