The cryptocurrency market is sending out deep bearish signals as the end of the year approaches.
At the time of writing, TradingView data showed that 75 of the top 100 coins by market value were trading below their 50- and 200-day simple moving averages (SMAs), indicating widespread weakness in the digital asset market.
This indicates a flight of capital from the crypto market following industry-leading Bitcoin. slipping to $87,000 from a record high of over $126,000 in early October.
The 50-day and 100-day SMAs filter out daily noise and smooth price action to detect broader changes in momentum, and traders and investors widely follow them. Think of them as guardrails: Crossing both signals signals underperformance relative to short- and long-term trends, often triggering intensified selling and accelerating declines.
In contrast, only 29 Nasdaq 100 stocks reflect this weakness, highlighting the continued bullishness of the technology stock market. Bitcoin is known to closely follow the movements of the Nasdaq, amplifying downward fluctuations in bearish phases.
The bear’s grip tightens
Among the 75 traders below the key averages are heavyweights like bitcoin, ether. Solana BNB And which together represent 78% of crypto’s $3 trillion market cap.
In other words, the biggest coins are flashing red on the charts, dragging the entire sector down like an anchor on a sinking ship.
They are the most liquid and institutionally traded assets, powering products such as CME futures and spot ETFs. A bearish signal from them signals caution, making investors much less willing to chase risk into smaller, illiquid alternative cryptocurrencies.
This type of weaker market has historically brought more pain.
Only 8 pieces oversold
Only eight of the top 100 coins are considered oversold on the relative strength index (RSI) when filtering the 75 already trading at their 50-day and 200-day SMAs. These are PI, APT, ALGO, FLARE, VET, JUP, IP, KAIA.
This layered view makes the picture more accurate: the wide SMA breach shows widespread bearish trends, but adding the RSI oversold filter, measuring exhausted selling momentum, reduces it to just 8. This means that most coins are not yet reaching panic lows and have room to fall further.
Traders see this as a bearish confirmation, pointing to further declines before any significant bullish recovery.
The 14-day RSI measures recent price momentum on a scale of 0 to 100. Readings below 30 would represent oversold conditions, a sign that the asset has fallen a little too quickly and could consolidate or rebound. Meanwhile, values above 80 represent overbought conditions.
