Dogecoin and HYPE tumble 10% as Bitcoin hovers around $60,000

Dogecoin slid 9.6% to roughly $0.076 and Hyperliquid’s HYPE dropped 9.9%, marking the steepest weekly declines among major cryptocurrencies as Bitcoin steadied just above $60,000 despite institutional outflows and a hawkish Fed backdrop【1】.

Market pressure and the Bitcoin anchor

The week’s downside was driven by a confluence of factors: U.S. spot Bitcoin exchange‑traded funds recorded net outflows, the Federal Reserve’s hawkish stance kept the dollar firm, and leveraged traders faced $217 million in crypto futures liquidations, with Bitcoin alone absorbing about $71 million【2】. Analyst Alex Kuptsikevich linked the sharp price swings to margin‑position liquidations that forced rapid selling, followed by pending buy orders that capped the decline and pushed Bitcoin back above $60 K after a brief dip to $58,800【1】.

Bitcoin’s resilience matters because it remains near its 200‑week moving average, a technical zone historically associated with prolonged weakness in prior cycles. The price’s ability to hold above $60 K will likely influence sentiment for the broader market, where altcoins such as Ether (down 8.4% to $1,581) and XRP (down 7.8% near $1.06) also posted losses【1】.

Dogecoin’s bearish structure and HYPE’s slump

Dogecoin’s price broke below a sideways range that had persisted since February, retesting $0.08926 before falling beneath the prior low and staying under its 200‑day moving average. The token’s Chaikin Money Flow turned negative (-0.17), indicating continued outflows, yet trading volume surged 98.85%, suggesting some buyer interest【1】. Technical analysis from analyst Ali Martinez highlighted a TD Sequential daily buy signal that would only hold if Dogecoin remains above $0.073; a break lower would invalidate the signal and keep the bearish trend intact【1】.

Hyperliquid’s HYPE token, while less discussed, mirrored Dogecoin’s trajectory, shedding nearly 10% and joining the week’s biggest losers among tracked assets【3】. Both tokens’ declines occurred despite relatively stable performance from Solana ($72) and Tron ($0.32), underscoring the selective pressure on riskier, meme‑driven assets【1】.

What to watch

• Dogecoin support: $0.073; a break below could trigger further downside toward $0.060.
• Bitcoin ETF flows: Continued net outflows from spot Bitcoin ETFs would add pressure on the $60 K level.
• Margin‑liquidation thresholds: Watch for large‑scale liquidations (e.g., $100 M+ in Bitcoin futures) that could amplify short‑term volatility.

Dogecoin and HYPE’s sharp weekly losses illustrate how capital rotation into equities—particularly AI‑linked stocks—can leave crypto assets vulnerable, while Bitcoin’s hold near $60 K serves as a barometer for whether institutional sentiment will stay bearish or rebound. The market now watches whether Bitcoin can defend this technical zone and whether Dogecoin can sustain the $0.073 support amid ongoing outflows.