Bitcoin prices rebounded from a five-week low, but as the cryptocurrency market struggles to regain momentum, several major altcoins saw double-digit declines this week.

According to the market data from crypto.news, as of Sunday, October 25th, the price of Bitcoin was around $80,312, with a decrease of 1.95% over the past 7 days. Ethereum was at $2,332, and Solana hovered around $101. This week, the worst performers included Bitway, Rain, Hedera, and Aave, while Pepe and MemeCore recorded double-digit gains.

Bitcoin rebounds after falling to a five-week low

Bitcoin fell to near $79,100 on Saturday, hitting its lowest level in about five weeks, before rebounding and once again exceeding $80,000.

At the beginning of this week, Bitcoin struggled to break through $83,000. On Wednesday, it briefly reached $85,000, but the buying momentum was not sustained, and the price subsequently fell back, dropping below $83,000 and then $81,000 before continuing to weaken on the eve of the weekend.

On October 24th, selling pressure intensified, causing the price of Bitcoin to fall below $80,000, which triggered a series of liquidations for leveraged crypto positions. CoinGlass data shows that approximately $546.88 million in positions were liquidated within 24 hours, involving over 116,000 traders.

Subsequently, Bitcoin rebounded to around $80,900, but then faced new selling pressure. On Sunday, its market value was approximately $1.61 trillion, with a daily trading volume of about $19.2 billion.

Institutional capital flows also reflect the divergence in the trading environment this week. The US spot Bitcoin ETF experienced significant net outflows on October 22nd and 23rd, with outflows of approximately $635.6 million and $137.9 million respectively.

Prior to this, these funds recorded a total net inflow of $1.07 billion over three consecutive trading days. Although there was a reversal in the latter part of the week, according to the data from Farside Investors, these funds still recorded a total net inflow of approximately $301.2 million over five trading days.

The worst-performing altcoins this week

The decline was particularly evident among mid-cap cryptocurrencies, with many tokens performing significantly worse than Bitcoin and Ethereum.

Bitway ( BTW ) is one of the tokens with the deepest declines this week, falling by 29.31% to around $1.72. Rain ( RAIN ) fell by 13.89% to around $0.0081, and Hedera ( HBAR ) fell by 13.47% to $0.0767.

Decentralized finance tokens were not spared either. Morpho (MORPHO) fell by 13.06%, and Aave (AAVE) fell by 11.65% to around $136.

Avalanche ( AVAX ) fell 9.68% to $8.83, NEAR Protocol fell 9.42% to $4.45. Quant fell 8.09%, Bittensor fell 7.26%, and Polkadot fell 7.21% this week to report around $1.03.

The sell-off was not limited to a particular type of cryptocurrency. Blockchain infrastructure projects, lending protocols, and several established altcoins all recorded declines, although the extent of those declines varied significantly.

Ethereum and the top ten cryptocurrencies show divergent performances

Ethereum has fallen by 3.41% over the past 7 days, with a trading price of around $2,332 on Sunday. This second-largest cryptocurrency by market value remains below $2,400 after another week of decline.

Solana fell 2.81% to $100.93, Cardano fell 7.17% to $0.2042, and Chainlink fell 5.27% to around $11.37.

XRP remains relatively stable, trading at around $1.30, with a weekly decline of only 0.09%. BNB has risen by 2.24% to $737.12, becoming one of the main cryptocurrencies with better performance.

Among the top ten cryptocurrencies by market value, Zcash rose by 7.51% this week, reaching approximately $1,209.

This upward trend is related to the preparatory work for the upgrade of the Zcash NU7 network, which is expected to take place around November 5th. On October 22nd, Zcash Foundation released version Zebra 7.0.0, which added support for changes to the consensus within the plan, including reducing the target block time from 75 seconds to 25 seconds.

Pepe and MemeCore rise against the trend

Despite the general market decline, there were still a few cryptocurrencies that closed higher this week.

Pepe ( PEPE ) has risen by 14.15% in the past 7 days, trading at around $0.0000044. Its market value is approximately $1.86 billion, with a daily trading volume of over $330 million.

MemeCore (M) showed a stronger performance on the weekly chart, rising by 19.4% to around $0.92. However, the token experienced a decline of nearly 20% on that day, indicating that despite the positive performance on the 7th, its volatility remains high.

Monero ( XMR ) rose by 3.82% to around $605. Like BNB and Zcash, it is one of the few mature cryptocurrencies to record gains this week.

According to the technical analysis on October 25th, Bitcoin's next major resistance level is still around $82,368, which corresponds to its 20-day simple moving average. If it manages to regain this level, the $84,725 area will become a focus of attention; if it falls below $80,000 again, it could test the support level of around $78,000.

Glassnode pointed out in its market assessment for October that after the decline on October 15th, there was buying interest in the range of $80,000 to $81,500. The analysis firm estimated that the average cost basis for US spot ETF holdings and corporate Bitcoin vaults also fell within this range.

DisclosureThis article does not constitute investment advice. The content and materials on this page are for educational purposes only.