Bitcoin traded sideways this week despite a strong rally in U.S. stocks. The world's leading crypto fell about 3% over the past seven days.
Ether, Solana, and other major cryptocurrencies also posted weekly declines. The drop was driven by weaker exchange-traded fund demand and mixed market signals.
Bitcoin was trading down 0.32% at $73,494.9 as of 05:01 ET. The S&P 500 recorded its ninth consecutive weekly gain, its longest since 2023.
Market participants point to slowing inflows into spot Bitcoin ETFs. The cooling demand has offset support from broader risk appetite.
CryptoQuant founder Ki Young Ju warns that Bitcoin's downtrend could persist into early 2027. Historical profit-taking cycles have led to about 18 months of weaker returns.
However, some indicators are positive. The Bull-Bear Cycle Indicator turned positive earlier this month for the first time since 2023.
Regulatory developments remain in focus. JPMorgan CEO Jamie Dimon criticized the proposed Digital Asset Market Clarity Act.
Altcoins were mixed: Ether flat, XRP up 1.28%, Solana down 0.3%.
