Hyperliquid (HYPE) Drops Another 5%, Bitcoin (BTC) Defends $90K Level: Weekend Watch

HYPE and ENA have fallen the most today compared to the larger investment funds.

Ethereum, Solana and Cardano have also fallen by up to 4% in the past day in the case of ETH, which is just inches above $3,100.

BTC defends $90K

The primary cryptocurrency had quite a volatile trading week, mainly influenced by Wednesday’s FOMC meeting. As expectations for another central bank rate cut grew, BTC soared from below $90,000 to a new multi-week high of $94,500 on Tuesday.

Before the meeting, it retreated slightly, but when the Fed made the 25 basis point rate cut official, bitcoin went on the attack again but was capped at $94,400. This time the rejection was more violent and resulted in a price drop to less than $89,500.

The bulls started another surge to $93,600 on Thursday, but BTC couldn’t keep rising. It settled at $92,500 on Friday, when it suddenly fell by around three thousand dollars before quickly regaining the $90,000 support. Since then, interest rates have remained above that level, despite Donald Trump’s most recent comments on the interest rate front and escalating tension with Venezuela.

The market cap is still above $1.8 trillion on CG, while the dominance on the alts stands at 56.9%.

HYPE, ENA Keep falling

Ethereum fell below $3,100 during Friday’s correction. Although it has since regained that level, it is still 3.8% lower on the day. SOL and ADA are down 3% each, while TRX, DOGE, LINK and XLM have posted losses of around 1.5%-2.5%. HYPE and ENA are down 4-5% to $28 and $0.25 respectively.

HASH, on the other hand, has shot up 13.5% to $0.03. M follows suit with an increase of 8%, bringing the price to $1.67 at the time of writing.

The total crypto market cap lost about $40 billion in one day, falling to $3.175 trillion on CG.