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Bitcoin eased to around the $79,000 mark in Asian morning hours Wednesday, down almost 1% on the day, as traders took profits after a week that lifted it 23%.
XRP fell hardest among the majors, down over 4% to just above $1.44, though it still leads the week at almost 45%. Privacy-focused Zcash dropped almost 6% to just above $783 while holding a 55% weekly gain, the strongest of the group, as a dedicated spot ETF went live in the US.
Dogecoin slid almost 5% to just under 9 cents, solana over 3% to just under $97, and tron almost 3% to nearly 34 cents.
BNB fell almost 2% to just over $695 and ether over 1% to just under $2,465, keeping weekly gains of almost 16% and 29% respectively. Hyperliquid's HYPE was the only major higher, up almost 3% to just over $81 and almost 40% on the week.
Valuation measures moved the other way. CryptoQuant's Bull Score, which tracks 10 market and onchain indicators, jumped from 30 to 80 over the week, its highest since Oct. 6, 2025, when bitcoin traded near $124,000. Eight of the 10 indicators are now bullish.
Apparent spot demand is growing at its fastest monthly pace since late December, the firm shared in a note with CoinDesk, and spot and futures demand are expanding together for the first time since early October 2025.
Equities went the other way from crypto, meanwhile. MSCI's Asia Pacific index rose 1%, led by Samsung Electronics and SK Hynix, heading for a fourth gain in five sessions as falling crude eased inflation worries.
Nvidia snapped a seven-day losing run on Wall Street before reporting earnings later Wednesday, and U.S. equity futures erased earlier losses.
Attention turns to second-quarter GDP figures due Wednesday morning and July PCE inflation, before Federal Reserve Chair Kevin Warsh delivers his first Jackson Hole keynote as chair on Friday. Markets put the odds of the Fed holding rates at 3.50% to 3.75% in September at roughly 60%.
cryptopolitan.com
cryptopotato.com
