Ether, XRP and dogecoin lead a broad crypto selloff as tech stocks tumble
CoinDesk 2026-06-26 05:41:51
Context: A global tech stock selloff led to a broad cryptocurrency selloff, with major cryptocurrencies such as ether, XRP, and dogecoin falling more sharply than bitcoin. The decline in cryptocurrencies was driven partly by large holders selling into a market with waning risk appetite as investors rotate toward AI-related stocks. This selloff occurred worldwide, with Asian markets such as South Korea's Kospi also experiencing significant losses.
Key Facts
- Ether dropped 5.6% over 24 hours to about $1,555 and is down 7.9% on the week, the steepest fall among the large caps, according to CoinDesk data.
- Bitcoin dipped near $58,000 before recovering toward $60,000, trading around $59,888, down 2.7% on the day and 4.5% on the week.
- XRP fell 4.9% to $1.03 for an 8.5% weekly loss, dogecoin slid 3.8% to $0.074 and is down 9.8% over seven days, and solana held up better at $68, off 1.2% on the week.
- The global tech stock selloff was triggered by Apple's decision to raise prices on Macs, iPads, and home devices, stoking fears that higher component costs will eventually slow the memory-chip rally underpinning the AI trade.
- According to Gabe Selby, head of research at CF Benchmarks, bitcoin's decline is being driven partly by large holders selling into a market with waning risk appetite as investors rotate toward AI-related stocks.