Meanwhile, Ethereum (ETH), the second-largest cryptocurrency, remained relatively steady around its weekly low below $1,900.
Altcoins like SOL and XRP managed to recover some of their earlier losses, while governance token MKR of MakerDAO saw double-digit gains due to a token buyback program.
Investors are now closely monitoring the upcoming Federal Reserve interest rate decision and Bitcoin options expiry scheduled for next week.
Initially, the week commenced with enthusiasm among investors as a favorable ruling in the Ripple-SEC case fueled hopes for an altcoin season.
However, both Bitcoin and Ethereum failed to break resistance levels and returned to their weekly range lows, which had a dampening effect on the overall market sentiment.