The cryptocurrency market navigated a week of significant volatility and strategic shifts, with major tokens experiencing pronounced movements in both directions. While Bitcoin's slip below a critical support level dragged down the broader market, a notable trend emerged: capital did not flee entirely but rather rotated into high-utility tokens, signaling an underlying resilience and a selective bullish sentiment.
Market Dynamics and Standout Performers
The week saw Bitcoin (BTC) dip below the crucial $110k mark, pushing it towards a multi-month low near $103k and pulling most altcoins back to early August price levels. However, this downturn was not a complete market exit. Instead, capital actively reallocated into high-utility tokens, which emerged as the week's top performers. Bittensor (TAO) led the charge with a impressive 30% rally, hitting a five-month high. Despite initial deleveraging, strong spot investor accumulation quickly established solid bid support, positioning TAO for a potential push past the $480 ceiling. Ethena (ENA) followed closely with a 27% surge, propelled by its founder's significant coin accumulation and a bullish derivatives bias, hinting at a short-term breakout towards $1. Morpho (MORPHO) secured a more modest 10% gain, weathering a $500 million outflow scare to retest key resistance, though its immediate directional bias remains uncertain. Beyond these majors, altcoin rockets like BNB Attestation Service (BAS) exploded with a 362% surge, showcasing significant niche activity.
Significant Declines and Technical Weaknesses
Conversely, some tokens faced substantial headwinds. Artificial Superintelligence Alliance (FET) was the week's biggest loser, plummeting 30% to a multi-year low. Persistent weekly losses, coupled with a lack of bid support and external pressures from U.S.-China trade tensions impacting the AI sector, painted a distinctly bearish picture for FET. Zcash (ZEC) experienced a 20% pullback, but unlike FET, this was largely interpreted as a healthy reset after a period of strong inflows. ZEC managed to claw back some losses, establishing a solid demand zone at $180 and suggesting potential for bullish continuation. MemeCore (M) saw an 8% drawdown, with technical indicators pointing to a potential for deeper correction as it failed to reclaim key support levels. Broader market volatility also hit other altcoins hard, with DORA leading the losers with a 67% drop, highlighting the fragmented nature of market movements.
