WASHINGTON (dpa-AFX) - Bearish sentiment prevailed in cryptocurrency market ahead of the crucial labor market update from the U.S. on Friday. Overall crypto market capitalization dropped more than half a percent overnight amidst an overnight rebound in the Dollar Index and declines in top-ranked Bitcoin as well as Ethereum.
In data to be released on Friday, the U.S. economy is expected to have added 190 thousand non-farm jobs in May, versus 175 thousand a month earlier. The unemployment rate is seen steady at 3.9 percent.
The Job Openings and Labor Turnover Survey for April released by the U.S. Bureau of Labor Statistics just a while ago showed the number of job openings declining to 8.06 million from 8.49 million in March and versus the market consensus of 8.34 million.
The Dollar Index which measures the Dollar's strength against a basket of 6 currencies is currently at 104.25 versus 104.14 a day earlier.
Bitcoin (BTC) shed 0.34 percent overnight to trade at $69,685.26. The leading cryptocurrency is however holding on to weekly gains of 2.9 percent and year-to-date gains in excess of 64 percent.
BTC traded between $70,230.82 and $68,564.64 in the past 24 hours. Bitcoin's crypto market dominance has edged up to 53.15 percent, from 53.05 percent a day earlier.
Data from Farside Investors showed net inflows of $105 million to Bitcoin Spot ETF products in the U.S. on Monday versus net inflow of $48.8 million on Friday. Fidelity Wise Origin Bitcoin Trust (FBTC) topped with overnight inflows of $77 million followed by Bitwise Bitcoin ETF (BITB) that recorded inflows of $14.3 million.
Ethereum also slipped around 1.4 percent in the past 24 hours, declining to a price of $3,782.74. The leading alternate coin which traded between $3,848.60 and $3,738.13 in the past 24 hours, commands 17.6 percent of the overall crypto market, versus 17.7 percent a day earlier.
4th ranked BNB (BNB) however rallied 1.8 percent in the past 24 hours to trade at $648.02. The native token of the Binance.com cryptocurrency exchange is trading with weekly gains of 8.4 percent and year-to-date gains of 107 percent.
5th ranked Solana (SOL) slipped around half a percent in the past 24 hours and 2.5 percent in the past week to trade at $166.17.
7th ranked XRP (XRP) rallied almost 1 percent overnight, bringing down the losses to 0.34 percent on a weekly basis and to 14.3 percent in 2024.
Dogecoin (DOGE), ranked 8th overall has shed 2.34 percent in the past 24 hours to trade at $0.1593.
9th ranked Toncoin (TON) surged 3.9 percent overnight to trade at $6.93.
10th ranked Cardano (ADA) added half a percent overnight and quarter percent over the past week.
26th ranked Kaspa (KAS) and 59th ranked JasmyCoin (JASMY) have both gained more than 15 percent in the past 24 hours.
53rd ranked Bonk (BONK) plunged 7.7 percent overnight. 20th ranked Pepe (PEPE) and 11th ranked Shiba Inu (SHIB) both slipped more than 5 percent during the same time span.
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