ORDI, Fantom (FTM) and Aave were among the worst-performing cryptocurrencies over the weekend as selling pressure intensified. The ORDI token plunged more than 15% in the past 24 hours and has fallen over 50% from its high earlier this year.
Fantom, meanwhile, dropped more than 8% in the last 24 hours and is down over 45% from its year-to-date peak. Similarly, the AAVE token slid to a low of $72.76, well below this year’s high of $153.90. Other notable decliners included KuCoin Token (KCS), XRP and Ethereum Classic.
Not all cryptocurrencies were in the red. Bittensor’s (TAO) token rose more than 20% over the past day, while Celestia (TIA), Dogwifhat (WIF) and Wormhole (W) jumped over 10%. BitBot also continued its token presale, raising more than $2 million.
Why cryptocurrencies fell
There are three main reasons crypto markets dropped over the weekend. First, crypto investors are likely “selling the news” ahead of the Bitcoin halving, which is now less than two weeks away.
This behavior—commonly described as “buy the rumor, sell the news”—occurs when investors who bought in on a positive outlook take profits when the anticipated event approaches or arrives. Bitcoin has already climbed from under $20,000 to a peak above $73,000 this year, prompting some to lock in gains.
Second, prices were pushed down by rising geopolitical risks that escalated during the weekend. Iran retaliated against Israel by launching more than 300 drones and rockets; most of those strikes were intercepted or failed, aided by defensive systems.
Those tensions can keep upward pressure on oil prices in the coming weeks. Brent crude, the global benchmark, has already moved to a multi-month high near $92 a barrel.
Third, there are growing signs the Federal Reserve may not cut interest rates in the coming months as many had expected. That shift helps explain why the U.S. dollar index has strengthened while U.S. stocks and bonds softened.
Despite the near-term volatility, analysts remain optimistic about the long-term outlook for cryptocurrencies, largely driven by Bitcoin. The halving reduces new supply, and ongoing institutional interest continues to support the market over time.
BitBot presale gains momentum
BitBot’s token presale has gathered speed even as broader crypto selling persists. Developers have raised over $2.3 million from investors and are steadily approaching their $2.5 million target.
BitBot aims to be one of the more ambitious projects in the blockchain space. The team plans to disrupt the rapidly growing Telegram bot market, which has long been plagued by scams and low-quality offerings.
The platform will operate as a Telegram bot featuring advanced capabilities. In addition to traditional technical indicators, BitBot intends to integrate artificial intelligence (AI) tools designed to deliver more accurate trading signals.
Furthermore, BitBot will leverage blockchain technology to help reduce or prevent fraud and to decentralize governance. Token holders will be able to participate in the network’s decision-making processes and benefit from its development. You can join the BitBot token presale here.