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Bitcoin closed out one of its ugliest weekly stretches in years, briefly breaking below $60,000 before recovering to trade near $61,300 — a performance the market has not matched since the FTX collapse in 2022.
The rout erased roughly $390 billion from total crypto market capitalization, with ether absorbing an even steeper hit: $ETH dropped around 22% on the week against $BTC's 17.3% decline.
A Drawdown That Demands a Mechanism A 17.3% weekly loss is not something the FTX comparison softens — that comparison is the point.
The last time $BTC posted a move of comparable size in a single week was during an event that rewired the entire crypto market structure.
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