Ether, XRP, Dogecoin Sink as Apple Rout Drags Crypto
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- Ether, XRP, and dogecoin led a broad crypto selloff, falling harder than bitcoin as a global tech stock rout dragged risk assets lower over the weekend.
- Ether dropped 5.6% in 24 hours to about $1,555, the steepest decline among large caps and down 7.9% on the week; XRP fell 4.9% to $1.03, and dogecoin slid 3.8% to $0.074.
- Bitcoin dipped near $58,000 before recovering to around $59,888, down 2.7% on the day and 4.5% on the week, with CF Benchmarks identifying the $50,000–$60,000 zone as a historically important support.
- Apple shares fell 6.1% on news it raised prices on Macs, iPads, and home devices, stoking fears that higher component costs will eventually slow the memory-chip rally underpinning the AI trade.
- South Korea's Kospi plunged as much as 9%, triggering its second trading halt of the week, as chipmakers SK Hynix and Samsung each fell more than 8%.
- Gabe Selby of CF Benchmarks said large holders are selling bitcoin into a market that can't absorb the extra supply as new money rotates to AI plays, with $55,000 as key support and $61,000–$62,000 as the level bulls need to reclaim.
Why it matters: Bitcoin is testing a $50,000–$60,000 support zone it hasn't lost in nearly two years, with $55,000 as the key floor. Large holders are selling into a thin market while attention rotates to AI—altcoins are already cracking 8–10% on the week versus bitcoin's 4.5%, showing the pain concentrates where liquidity is thinnest.
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