Bitcoin and Ethereum have led another broad crypto market decline over the past 24 hours, with BTC briefly sliding to a five-week low before recovering. According to CoinMarketCap data, Bitcoin dropped from the $80,000 range to the $79,000 range, bounced to $81,000, then fell back to the $80,000 area. BTC is now trading near $80,500, while Ethereum dipped from around $2,300 to $2,200 before returning to roughly $2,345.
The weekend brought additional volatility after Bitcoin plunged to $79,100 on Saturday, its lowest level in five weeks. It quickly rebounded to $80,900 but is now fighting to hold above $80,000. Bitcoin's market capitalization has declined to about $1.610 trillion, and its dominance over altcoins remains around 60%. Earlier in the week, a midweek surge pushed BTC close to $85,000, but bearish momentum returned and erased the gains.
Most altcoins are also in the red. Ethereum is down nearly 4% on the week, while XRP remains below $1.30 and Solana has fallen about 3% to $101. Larger weekly losses include NEAR at -11.4%, RAIN at -12.7%, TAO at -8%, QNT at -8.6%, BTW at -28%, AVAX at -10.5%, DOT at -8.3%, AAVE at -12%, and HBAR at -13.5%. In contrast, PEPE rose 13% weekly, and the token M gained 25% weekly despite a 15% drop in the last 24 hours. XMR, ZEC, and BNB also posted slight gains. Total crypto market capitalization has fallen below $2.7 trillion.
Analyst Doctor Profit, who correctly predicted Bitcoin's August 2025 peak near $126,000 and the subsequent bear market, as well as the 2026 bottom around $54,000, now expects BTC to rally toward $94,000. His earlier call for a move to $88,000 followed by a dip to $79,000 has already played out. While Peter Schiff predicted a deeper drop to $75,000, Bitcoin defied that outlook and rebounded, leaving traders watching whether the next recovery surge can begin after the weekly close.
