WASHINGTON (dpa-AFX) - Turbulence triggered by the global trade war has dampened the prices of cryptocurrencies in the past 24 hours. The latest action by China to announce 84 percent tariffs to retaliate against the U.S. imposing 104-percent tariffs spooked market sentiment further.
Overall crypto market capitalization is currently at $2.46 trillion, implying losses of 3.1 percent in the past 24 hours.
Wall Street Indexes are trading with minor gains. Dow Jones has edged up 0.10 percent to the level of 37,683.40 whereas S&P 500 has rallied 0.25 percent to trade at 4,995.38. The Nasdaq Composite is trading at 15,437.81 implying overnight gains of 1.1 percent.
The six-currency Dollar Index which measures the Dollar's strength against a basket of 6 currencies comprising the euro, the British pound, the Japanese yen, the Swiss franc, the Swedish krona and the Canadian dollar is trading lower. The DXY has shed 0.65 percent overnight to 102.28.
The decline in the price of cryptocurrencies came amidst a massive surge in the price of the gold. Gold Futures for June settlement are currently trading at $3,097.14, implying an overnight jump of 3.6 percent. Prices of the yellow metal which had touched an all-time high of $3,201.60 on April 2, traded between $3,102.85 and $2,986.80 during the past 24 hours.
Bitcoin has slipped 2.2 percent overnight to trade at $77,711, around 29 percent below the all-time high. The leading cryptocurrency traded between $78,779 and $74,590 during the past 24 hours.
Bitcoin Spot ETF products in the U.S. witnessed outflows of $326 million on Tuesday as compared with outflows of $104 million a day earlier. iShares Bitcoin Trust (IBIT) accounted for bulk of the flows with an outflow of $253 million.
Ethereum has also erased 4.5 percent in the past 24 hours to trade at $1,488. The leading alternate coin traded between $1,538 and $1,387 in the past 24 hours.
Ethereum Spot ETF products in the U.S. witnessed outflows of $3 million on Tuesday as compared with nil flows a day earlier.
4th ranked XRP also lost 4.9 percent during the past 24 hours as it changes hands at $1.83. 5th ranked BNB edged up 0.13 percent whereas 7th ranked Solana lost 2.4 percent during the past 24 hours. 8th ranked TRON slipped 1.4 percent whereas 9th ranked Dogecoin shed 3.9 percent. 10th ranked Cardano slipped 5.7 percent in the past 24 hours.
26th ranked Hyperliquid (HYPE) topped overnight gains among the top 100 cryptocurrencies with a surge of 7.2 percent. 68th ranked Four (FORM) followed with overnight gains of 5.1 percent.
96th ranked AB (AB) topped overnight losses among the top 100 cryptocurrencies with a decline of almost 12 percent. 34th ranked NEAR Protocol (NEAR) followed with losses of 8.4 percent.
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