Crypto Weekly Recap: Bitcoin Slips Below $63,000 as CPI Relief Never Arrives

Bitcoin price today after this week's crypto market drop

$Bitcoin is trading around $62,990 on Sunday morning, down 2.7% over the week, with the total crypto market cap holding near $2.19 trillion. Bitcoin fell 2.39% between 7 and 14 August, with five of seven trading sessions ending in negative territory, while Ethereum dropped 1.71%. The slide extended into the weekend, with BTC dipping as low as $62,812 on Saturday before stabilizing.

Where the majors finished the week:

• 🔴 Bitcoin ($BTC) around $62,990, down 2.7% on the week
• 🔴 Ethereum ($ETH) around $1,880, down about 1.7%
• 🔴$ XRP around $1.00, briefly under the dollar mark
• 🔴 Solana ($SOL) around $75.30, down about 1%
• 🟢 Monero ($XMR) up 5.3%, one of the few large caps in green

Since mid July the reading has traced an almost flat line in the mid to high thirties while Bitcoin swung between $63,000 and $66,500 above it, which tells you sentiment has been numb rather than panicked. Bitcoin's nearest support and resistance sat at $61,650 and $67,253. Volatility was almost non-existent. BTC's daily move did not exceed 1.5% on any single day, and the ADX reading of 12.37 confirms there is simply no trend here right now.

That matters more than it sounds. Crypto trading volumes have fallen to their lowest levels in three years, leaving very little firepower to push Bitcoin decisively in either direction.