Pepe

Solana

Bitcoin

April

Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="">BTC</a>) and Solana (<a href="https://crypto.news/price/solana/" rel="">SOL</a>) were two of the leading assets impacted by last week’s crypto market downturn. Meanwhile, Pepe (<a href="https://crypto.news/price/pepe/" rel="">PEPE</a>) experienced a steeper price drop. 
This price crash reverberated throughout the entire cryptocurrency market, with the global crypto market cap losing over $280 billion over the last seven days in a massive 10% drop to $2.32 trillion at the time of writing. 
Here is an overview of how some of the most impacted cryptocurrencies performed over the week: 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14265469"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/04/Bitcoin-BTC-20.51.31-14-Apr-2024-1024x347.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/04/Bitcoin-BTC-20.51.31-14-Apr-2024-1024x347.png" alt="Top cryptocurrencies to watch this week: BTC, SOL, PEPE - 21"> 
 </picture> 
 <figcaption class="wp-element-caption">
 BTC, SOL and PEPE prices – April 14 | Source: Santiment
 </figcaption>
</figure> 
<h2 class="wp-block-heading" id="btc-slips-to-1-month-low">BTC slips to 1-month low</h2> 
Interestingly, Bitcoin began the week favorably, attempting to build on the momentum it recorded from April 3 to 7 last week. The premier crypto asset <a href="https://crypto.news/bitcoin-all-time-high-daily-trading-volume/" rel="">reclaimed</a> the $70,000 threshold on April 8 for the first time in over a week, surpassing the $72,000 and closing the day with an impressive 3.25% increase. 
However, the bears took control of the scene the following day, pushing BTC below the $70,000 mark and triggering a 3.45% loss, essentially erasing the gains recorded on Monday. The hotter-than-expected U.S. inflation data <a href="https://crypto.news/bitcoin-sinks-68000-us-inflation/" rel="">exacerbated</a> the downward spiral. Bitcoin mustered a comeback when it dropped to the $68,318 support at the 21-day EMA.&nbsp; 
A resurgence of strength saw Bitcoin <a href="https://crypto.news/bitcoin-price-surges-amid-declining-whale-activity/" rel="">recover</a> the $71,000 zone, but the resistance that ensued hedged against any further rally. The rest of the week was marred by a consistent price decline, as tensions surrounding the looming Iran-Israel conflict <a href="https://crypto.news/iran-israel-conflict-funding-rates-860m-sell-off/" rel="">contributed</a> to the bearish pressure. 
Bitcoin saw three consecutive days of <a href="https://crypto.news/bitcoin-etfs-55m-net-outflow-btc-drops-65k-on-friday/" rel="">declines</a> from April 11 to 13, culminating in a shocking crash to a one-month low of $61,596 on April 13. Despite recovering from this floor, BTC remains in a downtrend, <a href="https://crypto.news/bitcoin-plunges-over-8-percent-heels-iran-drone-attack/" data-type="link" data-id="https://crypto.news/bitcoin-plunges-over-8-percent-heels-iran-drone-attack/" rel="">down 8%</a> over the past two days as it struggles to reclaim and retain the $65,000 territory. 
<h2 class="wp-block-heading" id="sol-breaks-below-50-day-ema">SOL breaks below 50-day EMA</h2> 
Solana’s start to the week was not as significant as Bitcoin’s, but its subsequent price decline was much steeper. Despite only seeing a modest 0.67% rise on April 8 as BTC led the market to a short-term recovery, SOL <a href="https://crypto.news/solana-suffers-unexpected-dip-as-hedera-ai-competitor-draws-investors/" rel="">crashed</a> 4.63% the following day when BTC triggered a downtrend. 
Similarly, its April 10 recovery only saw a 0.56% increase, with the rest of the week introducing one of the biggest price slumps for Solana this year. From April 11 to 13, Solana recorded a discouraging 21.19% drop, giving up the Fibonacci support levels at 0.618 ($171.09), 0.5 ($161.11) and 0.382 (151.14) in the process. 
More significantly, Solana’s three-day downward spiral resulted in a collapse below the crucial 50-day EMA stationed at $162.30 as of April 12. SOL closed below this level for two consecutive days. The last time the asset witnessed this event was in September 2023. 
<a href="https://crypto.news/anza-congestion-solana/" rel="">Solana</a> has also relinquished the psychological supports at $150 and $140, trading for $139.94 at the reporting time. The cryptocurrency is down 24% this week, having lost $19 billion from its market cap since April 8.&nbsp; 
 You might also like: <a href="https://crypto.news/us-government-bitcoin-holdings/" rel=""> US government tops global Bitcoin holdings with $15b in assets </a> 
<h2 class="wp-block-heading" id="pepe-cci-drops-to-9-month-low">PEPE CCI drops to 9-month low</h2> 
Pepe did not escape the bloodbath recorded in the broader market this week. 
The frog-themed meme coin eventually dropped to a one-month low below the $0.000004 support. Its gains at the start of the week surpassed Bitcoin’s, but so did its losses — a testament to the heightened volatility in the meme coin market. 
The meme coin surged 4.30% on April 8, reaching a high of $0.00000796, before it eventually dropped 9.28%, giving up not just the Monday gains, but most of the value it picked up last week. 
After two days of a mild recovery push, <a href="https://crypto.news/coinbase-perpetual-futures-pepe/" rel="">Pepe</a> saw a more substantial 19% intraday drop on April 12.&nbsp;This collapse marked its largest intraday decline in nearly a year (the last time Pepe saw such a price crash was when it dropped 30.47% on May 8, 2023, shortly after its launch). 
Following the 19% collapse on April 12, Pepe slumped by another 14.86% the next day. 
Despite a mild price increase today, Pepe still trades below $0.000006, changing hands at $0.00000525. The meme coin has dropped 29% this week, with its commodity channel index (CCI) crashing to -245, the lowest value in nine months. 
Such a dramatically low CCI suggests that Pepe is largely undervalued, with ample room for growth. The last time the asset’s CCI hit this level, it witnessed three more months of consistent declines, dropping to a low of $0.00000061 on Oct. 19, 2023, before it eventually recovered. 
 Read more: <a href="https://crypto.news/vc-investments-in-blockchain-games-plunged-by-57-in-q1-data-shows/" rel=""> VC investments in blockchain games plunged by 57% in Q1, data shows </a>

Top cryptocurrencies to watch this week: BTC, SOL, PEPE

Table of Contents

crypto.news

Other articles published on Apr 14, 2024

BlockDAG Shakes Up Crypto with 15,000 TPS: Impact on DogWifCat and the Rise of Retik Finance as a...

Flying Shiba Inu (FLYSHIB) To Surge 7,000% as MEXC Listing Sparks Rally

NEAR Protocol set for price consolidation, Solana AI alternative magnetizes big investors

Starknet STRK Token Release: A Major Event in the Crypto Market

EigenLayer Removes LST Caps: Building block of Ethereum DeFi Ecosystem

Bitcoin Price Drop and Upcoming Crypto Events

Join our free newsletter for daily crypto updates!