After a powerful weekly surge, the cryptocurrency market experienced a broad pullback on Wednesday. Bitcoin slipped to around the $79,000 mark during the Asian morning session, down roughly 1% on the day, although its weekly gain remained solid at 23%.

Major tokens like Ethereum and Solana moved lower in tandem, with XRP recording the most significant decline among its peers. Most leading digital assets were in the red over the past 24 hours.

XRP dropped more than 4% to hover above $1.44, but it still holds the top spot for weekly performance among its cohort with a near 45% increase. Privacy-focused token Zcash fell close to 6% to $783, paring its weekly advance to roughly 55%, following the official U.S. launch of its dedicated spot ETF. Dogecoin slid nearly 5% to below 9 cents, while Solana declined over 3% to under $97. Tron shed close to 3% to sit near 34 cents.

BNB dipped almost 2% to above $695, and Ethereum fell more than 1% to below $2,465, with their respective weekly gains at approximately 16% and 29%. In a notable divergence, the Hyperliquid ecosystem token HYPE bucked the trend by adding nearly 3% to surpass $81, posting a weekly gain of around 40%.

Turning to sentiment gauges, CryptoQuant's bull market score—which aggregates 10 market and on-chain indicators—jumped from 30 to 80 this week, reaching its highest level since October 6, 2025. Eight of those indicators currently flash bullish signals. The analytics firm noted that spot demand is expanding at the fastest monthly pace since late December, while spot and futures demand are expanding simultaneously for the first time since early October 2025.

Amid the crypto correction, Asia-Pacific equities strengthened. The MSCI Asia Pacific Index rose 1%, led by Samsung Electronics and SK Hynix, marking its fourth advance in five sessions. A pullback in crude oil prices helped ease inflation concerns. Meanwhile, Nvidia rebounded after seven consecutive days of losses, with its earnings report due after Wednesday's close. U.S. stock futures recovered their earlier losses.

Market attention now shifts to this week's economic data. Wednesday brings second-quarter GDP figures and the July personal consumption expenditures inflation reading, while Friday sees Federal Reserve Chair Kevin Warsh deliver his inaugural Jackson Hole symposium keynote address. Current market pricing suggests roughly a 60% probability that the Fed will hold its rate range at 3.50% to 3.75% in September.