Market pulse

Crypto markets were broadly lower, with losses spread across most traded assets rather than concentrated in a few names. Seventy of 100 assets declined, against 26 advancers, and the median 24-hour loss was about 3.4%. OGN rose sharply, but isolated gains did little to offset the weak overall breadth. The selloff was especially pronounced in NEAR and MINA, each down more than 15%.

Bitcoin fell about 1.8% in 24 hours and traded below its short-term average, though it remained above its 50-day average. That leaves the near-term tone weak without erasing the more mixed medium-term picture. Futures open interest dropped about 5% alongside the price decline, consistent with positions being reduced rather than a build-up of leverage. The taker-flow balance also leaned toward sellers. Funding was close to flat, offering little evidence of an aggressively one-sided derivatives market.

The contrast between the broad daily decline and stronger longer-term technical breadth among major assets is worth monitoring: eight of nine tracked majors remained above their 50-day averages. A sustained loss of that support would suggest the weakness is spreading beyond a short-term pullback. US inflation data next week could also affect broader risk appetite, though its impact on crypto remains uncertain.