The cryptocurrency market faced another sharp correction on Friday, as prices across the board turned red amid rising macroeconomic uncertainty and renewed geopolitical tensions.
Bitcoin (BTC) slipped below $117,000, down 3.75% over 24 hours and 5.13% for the week, while Ethereum (ETH) dropped 8.01% daily, now trading just under $4,000. The downturn reflects a mix of profit-taking, elevated global risk aversion, and continued market reaction to recent comments from U.S. President Donald Trump about potential new tariffs on Chinese products.
Broad Market Weakness Hits Altcoins Hard
Altcoins mirrored Bitcoin’s pullback, with major Layer-1 assets seeing even deeper losses. Solana (SOL) plunged 6.28% in 24 hours and is down 12.69% this week, currently at $205. XRP followed closely, sliding 4.55% daily and 12.45% weekly to $2.66, signaling renewed investor caution around high-volatility tokens. Cardano (ADA) and Dogecoin (DOGE) were also caught in the sell-off, ADA fell 5.33%, while DOGE lost 6.24% in 24 hours, both logging double-digit losses over the week.
Despite the market-wide decline, BNB (BNB) showed relative resilience. The Binance-linked token remains one of the few top assets in the green for the week, up 4.17% over seven days, even though it fell 1.88% in the past 24 hours. Analysts suggest the support comes from continued utility demand within Binance’s expanding ecosystem and the recent success of its new Meme Rush platform, which has drawn retail engagement during a volatile week.
Market Outlook: Volatility Likely to Persist
Market sentiment remains fragile as macro tensions and regulatory shifts continue to weigh on risk assets. With the S&P 500 down more than 2% and gold climbing above $4,000/oz, risk-off behavior is spreading across global markets. Crypto investors are now watching whether Bitcoin can hold the $115,000 support zone, while Ethereum’s next key level sits around $3,850.
If macro pressures ease and institutional demand stabilizes, especially from Bitcoin and Ethereum ETFs, analysts expect a potential rebound next week. For now, however, the market tone remains defensive, with traders bracing for continued volatility through mid-October.