Crypto Weakness Widens as 75 of Top 100 Coins Fall Below Key Moving Averages
The cryptocurrency market is showing deepening bearish signals as the year comes to a close.
Data from TradingView reveals that 75 of the top 100 coins by market capitalization are trading below both their 50-day and 200-day simple moving averages (SMAs), highlighting broad-based weakness. Bitcoin’s decline from over $126,000 in early October to around $87,000 has intensified capital outflows and dampened investor sentiment.
SMAs are widely followed indicators that filter out short-term volatility to reveal longer-term trends. Falling below both averages often triggers further selling and accelerates declines. By comparison, only 29 Nasdaq 100 stocks are below their key averages, underscoring the relative strength of tech equities. Bitcoin’s correlation with the Nasdaq can magnify downside pressure during bearish periods.
Major Coins Lead Declines
Among the 75 underperforming coins are bitcoin, ether (ETH$2,972.48), solana (SOL$127.94), BNB (BNB$847.03), and XRP (XRP$1.9279), collectively accounting for roughly 78% of the $3 trillion crypto market. Weakness in these liquid, institutionally traded assets typically limits risk appetite for smaller, less liquid tokens.
Oversold Coins Remain Few
Only eight of the top 100 coins—PI, APT, ALGO, FLARE, VET, JUP, IP, and KAIA—register as oversold on the 14-day relative strength index (RSI), which measures recent momentum on a 0–100 scale. Readings below 30 indicate oversold conditions, suggesting potential short-term consolidation or a bounce, while values above 80 signal overbought conditions.
The combination of widespread SMA breaches and limited oversold signals points to continued downside potential, confirming that bearish momentum remains dominant.
