BTC held steady at 78,000, Meme coins plummeted 10% to lead the crypto market decline

According to Woofun AI, the crypto market showed a marked fragmentation trend. Although Bitcoin (BTC) barely stabilized around $78,000, meme coins (Meme coins) and small-cap cryptocurrencies experienced a general decline, which became the core factor dragging down the overall market.

Mainstream asset performance was weak, with BTC falling slightly by 0.23% since midnight UTC, with a 24-hour cumulative decline of 2%. This retracement completely erased Wednesday's gains, making its current price 5.1% lower than last week's high of $82,284. Ethereum (ETH) reported $2,470. Although it rebounded slightly during the day, it still fell 1.9% in 24 hours; Binance Coin (BNB) performed the worst, falling as much as 5.1% in 24 hours.

According to data compiled by Woofun AI, market selling pressure was mainly concentrated on speculative varieties. Only 5 coins in the CoinDesk 100 index rose, and the overall index fell 3.7%.

The segmented index revealed a sharp structural sell-off: the CoinDesk meme coin index plummeted 10% in a single day, the CoinDesk 80 index, which consists of small instruments, fell 5.1%, while the CoinDesk 5 index, which represents the leading asset, fell only 2.3%.

Notably, market sentiment eased somewhat after midnight. 86 tokens in the CoinDesk 100 index fell, and the index fell by only 0.54%, indicating that most of the decline was released during the night.

Traditional financial markets did not weaken at the same time. S&P 500 futures rose 0.22%, NASDAQ 100 futures remained flat, gold rose 0.16%, and the US dollar index (DXY) remained unchanged. The macro focus quickly shifts to the data side: US producer price inflation data for August will be released later today, and the consumer price index released on Friday will set the tone for next week's interest rate decisions.