Crypto Markets Fall Sharply on Apple's 6.1% Plunge and AI Trade Fears

Crypto markets saw a broad selloff into the weekend, led by Ether, XRP, and Dogecoin. The decline was triggered by Apple's 6.1% single-session plunge, which reignited fears about the AI trade.

Bitcoin dipped near $58,000 before recovering to around $60,000, down 2.7% on the day and 4.5% on the week. CF Benchmarks' Gabe Selby noted that large holders sold into thin liquidity, amplifying the price impact of their sales.

Selby also pointed out that Bitcoin has pulled back into the $50,000 to $60,000 zone, where buyers have historically stepped in during prior bear markets. He identified $55,000 as a key support level and advised keeping position sizes sensible given ongoing volatility.