The crypto market experienced intense volatility this week, with Bitcoin surging to a new all-time high above $111k. However, macro instability swiftly reintroduced risk-off sentiment, impacting various cryptocurrencies.
Top performers include SPX6900 (memecoin), Worldcoin (utility token), and Hyperliquid (DeFi challenger). These assets have seen significant price gains due to selective capital inflows into sectors of strength. For instance, SPX6900 rallied by 30% over three consecutive days before consolidating around the $0.85 level.
On the other hand, Pyth Network (oracle token), Story (internet protocol token), and EOS (3rd-gen blockchain) took significant hits due to broad market FUD and lack of bullish defense. PYTH dropped 19.27%, while IP saw a 13.39% drawdown. Meanwhile, EOS has posted a 3.5% rebound over the past 48 hours, indicating signs of life.
Other notable losers include Hot Mom (61.4% retracement), APF Coin (44.6% slide), and NEM (38.2% decline). Despite the chaos, it’s essential for traders to DYOR (do your own research) before making any investment decisions, stay sharp, trade smart, and ride the waves wisely.
Source: https://ambcrypto.com/crypto-market-weekly-review-25-may