BTC Keeps $79K in Sight While Ether and Solana Slide After Weekly Surge

Bitcoin stayed around $79,000 during Wednesday’s Asian session as traders took profits after its strong seven-day rally. Most major cryptocurrencies moved lower over the past 24 hours, while HYPE was the only major token to remain in positive territory.

BTC declined nearly 1% but was still up about 23% over the week. XRP dropped more than 4% to just above $1.44, though its weekly performance remained impressive at nearly 45%, the strongest among the major cryptocurrencies.

Zcash fell almost 6% to slightly above $783 but retained a weekly gain of around 55%, making it the best-performing major token over seven days. The privacy-focused asset has received a boost from the launch of a dedicated spot ETF in the U.S.

Dogecoin dropped nearly 5% to below $0.09, while Solana declined more than 3% to under $97. Tron also fell close to 3%, trading near $0.34.

BNB slipped almost 2% to slightly above $695, while ether declined more than 1% to below $2,465. Despite the pullbacks, the tokens remained up roughly 16% and 29%, respectively, over the past week.

HYPE bucked the market trend, rising almost 3% to above $81. Hyperliquid’s token remained nearly 40% higher on the week.

Crypto Fundamentals Show Renewed Strength

Underlying market indicators continued to improve despite the latest price declines. CryptoQuant’s Bull Score, which evaluates 10 market and onchain indicators, climbed from 30 to 80 over the past week.

The score reached its highest level 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 reported that apparent spot demand is growing at its fastest monthly rate since late December. The firm said spot and futures demand are rising simultaneously for the first time since early October 2025.

Global Markets Await Fresh Fed Signals

Asian stocks advanced as crypto prices retreated. MSCI’s Asia Pacific index gained 1%, supported by Samsung Electronics and SK Hynix, putting it on track for a fourth gain in five sessions. Lower crude prices also helped ease concerns about inflation.

U.S. markets showed improvement, with Nvidia ending a seven-day losing streak ahead of its earnings report on Wednesday. U.S. equity futures also recovered from earlier declines.

Investors are now awaiting second-quarter GDP figures and July PCE inflation data. The spotlight will then shift to Federal Reserve Chair Kevin Warsh’s first Jackson Hole keynote on Friday.

Market pricing currently indicates roughly a 60% chance that the Fed will keep interest rates within the 3.50%-3.75% range at its September meeting.