Dogecoin sinks 5% to lead majors losses, with bitcoin holding $78,000 level

Bitcoin traded just above $78,000 as of Asian morning hours on Thursday, down about 1% over 24 hours, with the rest of the majors falling harder.

Dogecoin was the worst of them, down more than 5%, followed by BNB at about 4% and XRP at 3%. Solana, hyperliquid’s HYPE and ether each shed between 1% and 3%, leaving ether just under $2,475 and solana near $102. Tron was the only gainer, up less than 1% to about 34 cents

Bitcoin’s 50-day average price crossed above its 200-day average on Tuesday.

FxPro analysts said a similar crossover in October 2024 and May 2025 produced nothing, but that this one follows a prolonged bull market rather than appearing inside a correction.

“The current situation bears a closer resemblance to what we saw in 2019,” they wrote, pointing to a 90% rally in under two months after that signal.

Brent crude climbed as high as nearly $102 a barrel in Asian trade after Iran said it was prepared for a more intense war, and the higher oil price is feeding straight into rate expectations.

The 10-year Treasury yield held near 4.85%, a level last seen in late 2023, after the U.S. government’s plan to buy up to $6 billion of longer-dated debt disappointed investors who wanted a bigger number.

Asian stocks followed Wall Street lower, with the MSCI Asia Pacific Index down nearly 1% and benchmarks in Japan, South Korea, Taiwan and Australia all declining. The S&P 500 closed down about 1% on Wednesday and the Nasdaq 100 slipped less than that. U.S. and European futures edged higher.

The dollar index stayed in the 98 handle with intraday gains failing to stick, and the greenback is no longer picking up the bid that high oil handed it earlier in the conflict.

Attention in currencies sat on the yen, back in the 150 zone per dollar after Treasury Secretary Scott Bessent’s warning, and on the Canadian dollar, which pushed the greenback below 1.38 as retaliatory tariffs took effect and the U.S. banned some Canadian imports.

Friday’s CPI is the next input, and a hot print would put a Fed hike back into the price of everything that fell on Thursday.

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Source: cryptonews.net