Bitcoin Stays Above $79K as Ether and Solana Pull Back After Rally

Most major cryptocurrencies declined over the past 24 hours, with HYPE the only exception. Despite the pullback, Bitcoin remains up 23% for the week, while XRP has gained nearly 45%.

Bitcoin slipped toward $79,000 during Asian trading hours on Wednesday, falling almost 1% on the day as traders locked in profits following a rally that pushed BTC 23% higher over the past week.

Among the largest tokens, XRP suffered the steepest decline, dropping more than 4% to slightly above $1.44. Even so, it remains the strongest weekly performer among the major assets, with gains approaching 45%.

Privacy-focused Zcash fell nearly 6% to just above $783 but still maintained a 55% weekly advance, the biggest weekly gain among the group. The token has benefited from the launch of a dedicated spot ETF in the U.S.

Dogecoin declined almost 5% to below $0.09, while Solana dropped more than 3% to just under $97. Tron also fell nearly 3% to around $0.34.

BNB slipped close to 2% to slightly above $695, while ether declined more than 1% to below $2,465. Both assets continue to post substantial weekly gains of roughly 16% and 29%, respectively.

Hyperliquid’s HYPE was the only major token to advance, rising almost 3% to slightly above $81. The token has gained nearly 40% over the past seven days.

Crypto Market Indicators Turn More Bullish

Despite the short-term declines, broader market indicators have strengthened. CryptoQuant’s Bull Score, which evaluates 10 market and onchain metrics, climbed from 30 to 80 over the past week. That marks its highest reading since Oct. 6, 2025, when Bitcoin was trading near $124,000.

Eight of the 10 indicators tracked by the metric are now signaling bullish conditions.

CryptoQuant also said apparent spot demand is increasing at its fastest monthly pace since late December. According to a note shared with CoinDesk, spot and futures demand are now expanding simultaneously for the first time since early October 2025.

Asian Stocks Rise as Oil Prices Ease

Equity markets moved in the opposite direction from crypto. MSCI’s Asia Pacific index gained 1%, supported by strong performances from Samsung Electronics and SK Hynix. The index was heading toward its fourth positive session in five as lower crude oil prices reduced concerns about inflation.

In the U.S., Nvidia ended a seven-session losing streak ahead of its earnings report scheduled for Wednesday. U.S. stock futures also recovered from earlier declines.

Markets are now awaiting second-quarter GDP data due Wednesday morning, followed by July PCE inflation figures. Investors will then focus on Federal Reserve Chair Kevin Warsh’s first Jackson Hole keynote on Friday.

Current market pricing puts the probability of the Fed keeping its benchmark rate between 3.50% and 3.75% at its September meeting at roughly 60%.