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Bitcoin slips toward $78,000 as memecoins and small caps lead crypto retreat

Bitcoin is about 5.1% below last week’s $82,284 high, while Ether is marginally higher on the day and BNB is the weakest among large caps over the past 24 hours.

Reported · Written up by our desk · Market Structure

Bitcoin traded near $78,000 as broader crypto prices fell, with the move led by weakness in memecoins and other higher-risk assets, according to CoinDesk indices data.

Bitcoin was down about 2% over 24 hours, bringing it to roughly $78,111 and leaving it 5.1% below last week’s $82,284 high. Ether was marginally higher on the day, while BNB posted the worst 24-hour performance among large-cap tokens, down about 5.1%.

Across the CoinDesk 100 constituents, 95 of 100 declined over the past day, and the CoinDesk index itself fell 3.7% over 24 hours. The CoinDesk Memecoin Index dropped 10% over 24 hours, compared with 2.3% for the bitcoin-heavy CoinDesk 5.

CoinDesk also noted the selling was concentrated earlier in the session, with 86 constituents lower since midnight UTC and the index down about 0.5% during the calmer later period. It pointed to an otherwise mixed signal from traditional markets, with S&P 500 futures up 0.22%, Nasdaq futures flat, and gold up 0.16%, ahead of upcoming U.S. inflation data.

Latest closeGold $4,445.30 ▲1.2%|Bitcoin $77,087.06 ▼1.5%|BNB $711.77 ▼1.5%

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