Analysis: Among the top 100 cryptocurrencies by market capitalization, 75 have fallen below their 50-day and 200-day moving averages.

According to CoinDesk analysis, 75 of the top 100 cryptocurrencies by market capitalization are below their 50-day and 200-day simple moving averages (SMAs), indicating overall weakness in the digital asset market. Bitcoin's price has fallen from its all-time high of over $126,000 in early October to $87,000, driving outflows from the market. Major cryptocurrencies such as Ethereum, Solana, BNB, and XRP are also below key moving averages, representing 78% of the $3 trillion crypto market capitalization, further dragging down market sentiment. In contrast, only 29 stocks in the Nasdaq 100 index have shown similar weakness, indicating that tech stocks still have market breadth. Bitcoin typically moves closely with the Nasdaq, amplifying downward volatility during bear markets. Currently, only eight cryptocurrencies are showing oversold status on the Relative Strength Index (RSI), including PI, APT, and ALGO, suggesting that most tokens may still have further upside potential.