Hyperliquid trader James Wynn goes ‘all-in’ on $1.25B Bitcoin Long
Dogecoin, Cardano’s ADA, XRP Fall 7% in Weekend Bloodbath
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Shaurya Malwa
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BTC
$108,237.70
–
2.24%
ETH
$2,559.62
–
3.62%
USDT
$0.9997
+
0.00%
XRP
$2.3501
–
3.31%
BNB
$670.04
–
1.75%
SOL
$175.28
–
3.97%
USDC
$0.9995
–
0.02%
DOGE
$0.2287
–
6.08%
ADA
$0.7625
–
5.67%
TRX
$0.2728
–
0.25%
SUI
$3.6670
–
4.03%
HYPE
$33.76
–
3.30%
LINK
$15.78
–
5.29%
AVAX
$23.23
–
7.43%
XLM
$0.2912
–
3.34%
SHIB
$0.0₄1449
–
5.95%
BCH
$429.61
–
1.39%
LEO
$8.8112
–
0.20%
HBAR
$0.1922
–
5.49%
TON
$3.0237
–
3.51%
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Updated May 24, 2025, 7:04 a.m. Published May 24, 2025, 6:48 a.m.
- The crypto market saw significant declines over the weekend, with major coins like Dogecoin, Cardano’s ADA, and XRP each falling over 7%.
- Bitcoin’s price dropped sharply from a high of $111,200 to just over $107,000 amid renewed tariff war fears between the U.S. and the European Union.
- Despite recent highs, the market’s volatility and low liquidity conditions have led to a pullback, highlighting the fragility of current rallies.
The crypto market turned red over the weekend, with Dogecoin (DOGE), Cardano’s ADA, and XRP each dropping over 7% as profit-taking set in after a strong week.
STORY CONTINUES BELOW
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Bitcoin fell from a daily high of $111,200 to just over $107,000 on Friday, causing a swift change in sentiment. The drop came as President Donald Trump revived fears of a tariff war with the European Union — threatening a 50% levy as talks were “going nowhere.”
Market cap shed 5% and the broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens, fell 2.2% as traders moved to lock in gains amid rising volatility.
The move comes despite bitcoin touching fresh highs above $111,500 just days earlier, with ETF inflows, stablecoin legislation, and institutional buying supporting its rally. But those same tailwinds haven’t kept altcoins afloat in the short term.
“Bitcoin reaching a new all-time high also carries altcoins toward a bullish direction,” said Haiyang Ru, co-CEO of HashKey Group, said in a Telegram message. “But if BTC’s volatility picks up again, traders may rotate into regulated stablecoins — especially with new frameworks in the U.S. and Hong Kong easing that transition.”
Alex Kuptsikevich, chief analyst at FxPro, crypto sentiment recently hit levels last seen in January, just as BTC and ETH reached critical resistance zones. “Unlike previous BTCUSD rallies, the current movement is not just momentum-driven but backed by real demand and macro factors,” he noted.
Still, markets are showing signs of fatigue. Ethereum is struggling to break past its 200-day moving average near $2,650, while altcoins that previously surged — such as HYPE and EIGEN — are now cooling off after double-digit gains.
Analysts warn that if BTC doesn’t establish a new support zone, altcoin losses could deepen.
For now, the weekend pullback displays the fragility of rallies in low-liquidity conditions and the speed at which sentiment can turn.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
