Bitcoin and ether hit 17.3% and 22% weekly drops

Bitcoin and ether each record their largest weekly losses since November 2022 amid a $390 billion market value drop. Bitcoin falls 17.3% to $60,583 and ether drops 22% to $1,550. $7 billion in leveraged positions were liquidated across crypto derivatives. Heavy ETF outflows and AI investment competition intensified selling pressure. The crypto market capitalization dipped below $2 trillion, down from $4.2 trillion peak.