Bitcoin Slips to $79K as XRP Leads Crypto Market Pullback

Bitcoin slipped toward $79,000 during Asian trading on Wednesday as investors locked in profits following a powerful week-long rally that pushed the world’s largest cryptocurrency up about 23%.

Bitcoin fell nearly 1% on the day, while several major altcoins recorded steeper losses. XRP led the decline, dropping more than 4% to just above $1.44. Despite the pullback, XRP remains one of the strongest performers this week, gaining nearly 45%.

Zcash declined almost 6% to around $783 after a dedicated U.S. spot ETF began trading. The privacy-focused cryptocurrency is still up roughly 55% for the week, the biggest gain among major digital assets.

Dogecoin fell nearly 5% to below $0.09, while Solana dropped more than 3% to under $97. Tron declined almost 3% to approximately $0.34. BNB slipped nearly 2% to above $695, and Ethereum fell more than 1% to just below $2,465. Ether and BNB remain up around 29% and 16%, respectively, over the past week.

Hyperliquid’s HYPE bucked the broader crypto market decline, rising nearly 3% to above $81 and extending its weekly advance to almost 40%.

Despite Wednesday’s profit-taking, market indicators suggest improving conditions. CryptoQuant’s Bull Score surged from 30 to 80 over the past week, reaching its highest level since October 6, 2025, when Bitcoin traded near $124,000. Eight of the index’s 10 market and on-chain indicators are now signaling bullish conditions.

CryptoQuant also reported that apparent spot Bitcoin demand is expanding at its fastest monthly pace since late December. Spot and futures demand are rising simultaneously for the first time since early October 2025.

Asian equities moved higher even as cryptocurrencies weakened. MSCI’s Asia Pacific index gained 1%, supported by Samsung Electronics and SK Hynix as lower crude oil prices eased inflation concerns.

Investors are now watching U.S. second-quarter GDP and July PCE inflation data, followed by Federal Reserve Chair Kevin Warsh’s Jackson Hole speech on Friday. Markets currently see roughly a 60% probability that the Fed will keep interest rates unchanged at 3.50%-3.75% in September.