Crypto Market Sees Sharp Declines as Dogecoin and HYPE Lead Losers

The cryptocurrency market took a hit this week, with Dogecoin and HYPE leading the way in losses. According to recent data, Dogecoin plummeted 9.6% to nearly $0.076, while HYPE dropped 9.9%. Ether declined 8.4% to about $1,581, and XRP lost 7.8%, trading near $1.06.

On the other hand, Bitcoin showed greater resilience than its peers, falling only 5.3% to around $60,345. Despite this, it was not immune to market pressure, with buyers returning after a brief dip below $58,800 on Friday. FxPro chief market analyst Alex Kuptsikevich linked the sharp declines to margin position liquidations during sudden market drops.

Kuptsikevich also warned that institutional investors may continue reducing cryptocurrency exposure to protect their balance sheets, which could produce further pressure and repeated liquidation-driven price swings. This comes as US spot Bitcoin exchange-traded funds recorded outflows during the week, while a hawkish Federal Reserve and strong dollar added pressure across the digital asset market.