Market pulse

Crypto markets are broadly weaker, with losses spread across nearly the entire tracked asset list. Only 6 of 100 assets advanced, while 89 declined; the median 24-hour loss was 3.4%. INIT was a notable exception, rising about 14%, while AXIS fell about 37%. The breadth points to a weak session rather than a pullback limited to a few large tokens.

Bitcoin traded near $79,900, down about 1.7% over 24 hours. It remained below its 20-day and 50-day averages, while a 14-day RSI near 39 reflected soft momentum without reaching conventional oversold territory. Open interest, the value of outstanding futures contracts, slipped about 1% over 24 hours, suggesting some position reduction. Funding remained slightly positive, and Binance’s long-to-short ratios still favored longs; together, these signals show that bearish spot performance has not erased long positioning. Taker flow leaned modestly toward sellers.

US GDP and personal-income and spending data, including the PCE inflation measure, are due today, alongside an ECB rate decision. These events could add volatility, but their market impact is uncertain. The Federal Reserve’s latest statement is also part of the current macro backdrop; no direct link between that news and crypto’s decline is evident. With market breadth weak, Bitcoin’s ability to stabilize and whether selling pressure eases are key near-term signals.