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Bitcoin Holds at $79,000 as Ether and Solana Fall

The drop follows strong weekly gains, while CryptoQuant is seeing stronger spot demand and a Bull Score of 80. Trading in Bitcoin spot ETFs and macro data are also still driving the market.

By Zenz van der Wielen
• 3 min read
Bitcoin Holds at $79,000 as Ether and Solana Fall

Key Takeaways

  • Bitcoin traded around $79,000 on Wednesday, nearly 1% lower, after traders took profits following a 23% weekly gain.
  • Ether, Solana, Dogecoin, Tron, and BNB also fell, while XRP and Zcash posted bigger losses but still held onto strong weekly gains.
  • CryptoQuant reported stronger spot demand and a Bull Score of 80, pointing to continued underlying demand in the market.

Bitcoin moved around $79,000 (€67,700) in the Asian morning on Wednesday, nearly 1% lower on the day, after traders took profits following a week in which the coin rose 23%. Many other major tokens also gave back gains, although the weekly picture for several coins was still solidly positive.

Major Coins Give Back Gains

XRP fell the most among the major coins, dropping more than 4% to just above $1.44 (€1.23). Even so, the coin is still up nearly 45% on the week. Zcash fell almost 6% to a little above $783 (€671), but it still held onto a 55% weekly gain after a dedicated spot ETF went live in the U.S.

Dogecoin fell almost 5% to just below 9 cents. Solana dropped more than 3% to just below $97 (€83), and Tron fell almost 3% to nearly 34 cents. BNB lost almost 2% to a little above $695 (€596), and ether fell more than 1% to just below $2,465 (€2,110). Ether is still up nearly 29% on the week, while BNB gained almost 16%.

Hyperliquid's HYPE was the exception. The token rose almost 3% to a little above $81 (€69) and is up nearly 40% on the week.

Spot Demand Remains Strong

The pullback came even as underlying demand stayed firm. CryptoQuant said its Bull Score, which tracks 10 market and on-chain indicators, rose from 30 to 80 in one week. That is the highest level since October 6, 2025, when Bitcoin was trading around $124,000 (€106,300), and eight of the 10 indicators are now bullish.

According to the company, visible spot demand is growing at the fastest monthly pace since late December. Spot and futures demand are also growing together again for the first time since early October 2025. That suggests the recent price move is being driven not just by short-term trading, but also by broader interest in the market.

Broader Picture for Investors

For European crypto investors, the main takeaway is that Bitcoin has already shown a wide trading range this year. The coin hit $97,008 (€83,200) in 2026, fell earlier to $64,578 (€55,400), and is still lower than where it started the year, according to the market data provided. That fits a market where the old four-year halving cycle is being questioned more often, partly because of the arrival of Bitcoin spot ETFs and changing market structures.

Wednesday's move also came alongside a broader risk-on mood in financial markets. Asian stocks rose, while investors later in the day watched U.S. growth data and inflation figures. That still matters for crypto, because rate expectations and liquidity often feed quickly into trading in Bitcoin and the major altcoins. An earlier rally above $80,000 (€68,600) was already helped by strong ETF inflows, showing how sensitive the market remains to institutional demand.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.