Bitcoin failed to rebound on Friday, holding steady near its session lows below $95,000 late in the US trading day, after a brutal week that dragged prices to their lowest levels since May. The largest cryptocurrency is once again lagging behind US stocks, with major US indexes holding onto modest gains in the final minutes of trading. Bitcoin was on track for a 9% loss for the week, its worst performance in eight months.
Ethereum, trading below $3,200, has fallen even more sharply, dropping more than 11% since Monday, while Solana has lost 15% over the same period. XRP has fared better, declining by only 1%, perhaps supported by the launch this week of its first US-based spot ETF by Canary Capital.
Cryptocurrency-related stocks posted a mixed performance after sharp losses on Thursday. MicroStrategy (MSTR), the largest public holder of Bitcoin, slipped another 4% to below $200 for the first time since October 2024. Ethereum wallet companies BitMine (BMNR) and SharpLink Gaming (SBET) plummeted, while Solana DeFi Development (DFDV) and Upexi (UPXI) aggregators fell 13.7% and 9%, respectively.
Mining companies CleanSpark (CLSK), MARA Holdings (MARA), and Hive Digital (HIVE) also declined, by 4% to 7%. On the upside, Hut 8 shares rebounded by 6% following earnings results from American Bitcoin, a joint venture with the Trump family, while Robinhood (HOOD) and Bitcoin mining operator Riot Platforms (RIOT) advanced by approximately 3%.
