The CoinDesk 20 index declined 0.8 percent to 1975.1. Bittensor and Internet Computer led the losses among the tracked assets.
The broad-based index traded lower after closing at 4 p.m. ET on Thursday. Three assets in the group advanced while the rest declined or held steady.
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Bitcoin and Ether posted their steepest weekly declines since the 2022 FTX collapse as the broader crypto market shed roughly $390 billion in value. The selloff followed a strong U.S. jobs report and mounting concerns over interest rates and competition from AI investments.
Major cryptocurrencies fell this week amid a rotation toward stocks tied to the artificial intelligence boom. Bitcoin proved steadier than most peers while Dogecoin and other tokens posted steeper losses.
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Bitcoin slipped below $63,000 on Friday as a global selloff in semiconductor and AI-related stocks spread to crypto markets. Renewed geopolitical tensions involving the United States, Iran, and China added to the pressure on risk assets.
Bitcoin dropped below $75,000 on May 23 for the first time since mid-April, sparking nearly $1 billion in liquidations across crypto markets. The decline followed more than $2 billion in outflows from U.S. spot Bitcoin ETFs over two weeks.
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U.S. spot Bitcoin ETFs saw net assets fall to $77.58 billion on June 9, matching levels last seen just after Donald Trump's 2024 election victory. Outflows have accelerated amid inflation concerns and investor shifts toward AI-related assets. The decline occurred despite a favorable regulatory environment for crypto.