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, according to CoinDesk data.

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.