Bitcoin Breaks Below 200-Week Average at $62.5K This Week as Zcash Discloses 4-Year Exploit

According to Bitcoin.com's Week in Review, Bitcoin broke below its 200-week moving average, trading at $62,495 on Friday morning, while Ethereum and the broader altcoin sector collapsed further. The downturn was exacerbated by Zcash's disclosure of a 4-year double-spend exploit, intensifying a broader crisis of faith in crypto markets.

Meanwhile, Hyperliquid's HYPE token hit all-time highs this week, with its perpetual exchange capturing 7% market share versus centralized platforms. However, the UK's Financial Conduct Authority (FCA) issued a warning designating Hyperliquid as an unauthorized firm, weighing on sentiment despite the token's recent gains.