Bitcoin remained close to $79,000 after slipping by almost 1% over 24 hours, as traders took profits following a 23% rise over the past week. Most major cryptocurrencies also moved lower, with Ether and Solana among the tokens to retreat.
The broadly weaker session contrasted with the strength seen across the digital-asset market in recent days. Every major token fell over the latest 24-hour period except HYPE, although Bitcoin continued to hold the majority of its weekly advance. XRP has performed even more strongly over the same period, gaining almost 45%.
Despite the short-term declines, market indicators suggest that demand for cryptocurrencies has strengthened. CryptoQuant’s Bull Score rose to 80, its highest level since October 2025.
The score increased as demand expanded across both spot and futures markets. Eight of the 10 indicators monitored by CryptoQuant turned bullish, pointing to a broad improvement in market conditions rather than a rally driven by only one part of the trading sector.
Bitcoin’s move lower was therefore viewed as a pullback after a substantial period of gains, rather than a decisive reversal in sentiment. Traders appeared to be locking in some of the profits generated by the cryptocurrency’s weekly rally while the wider market paused.
The developments came as investors also monitored broader financial markets. Asian stocks moved higher, helped by lower oil prices, which eased concerns about inflation. Cheaper oil can reduce pressure on costs across the economy, although investors remained focused on upcoming events that could influence expectations for interest rates and global growth.
Markets were waiting for new United States economic data, along with Nvidia’s earnings. Investors were also preparing for an address at Jackson Hole by Federal Reserve Chair Kevin Warsh, with the event expected to attract close attention because of its potential implications for monetary-policy expectations.
The combination of rising Asian equities, softer oil prices and a strong recent performance from digital assets provided a supportive backdrop, even as cryptocurrency traders reduced exposure after the week’s gains. Bitcoin’s ability to remain around $79,000 meant it was still up 23% over seven days, while XRP’s near-45% increase made it one of the strongest performers among the major tokens.
Ether and Solana both slipped during the latest session, reflecting the wider profit-taking across the sector. HYPE was the exception among major tokens, rising while the rest of the group declined.
Anvil, meanwhile, is described as a shared on-chain collateral layer based on a programmable letter of credit. It uses reserve assets as a guarantee, with no loan or interest involved, while allowing users to retain custody and yield.
