Bitcoin's price tumbled from over $65,000 to close just above $63,200, an approximately 3.2% weekly loss. The cryptocurrency briefly hit a low below $62,500 on Aug. 14. Despite a quick rebound, bitcoin's decline wiped out more than $30 billion in market capitalisation. Several high-cap altcoins trended downward, led by XRP, which shed nearly 4%. ADA, Bitcoin Cash, and Zcash also saw notable drops of 10.6%, 6%, and 5.6%, respectively. However, Chainlink (LINK) led the charge with a 13% surge, energized by a bullish Standard Chartered forecast. World Liberty Financial (WLFI) also posted a 15% rally, alongside Worldcoin (WLD) and OKB, which posted gains of 11.4% and 10.9%, respectively.
Market Performance
The crypto market's aggregate capitalization dropped from nearly $3 trillion on Aug. 10 to $2.22 trillion. Bitcoin fell below $64,000 on Aug. 10 after briefly reaching an intraday high of $65,416.
Notable Gainers
LINK and WLFI were among the top gainers, with double-digit expansions. Hyperliquid (HYPE) also demonstrated resilient buying pressure, climbing 5.8%.