WASHINGTON (dpa-AFX) - Renewed skepticism over a trade deal between the U.S. and China dampened the prices of cryptocurrencies in the past 24 hours. Expectations of a softening in the harsh stance on China on the trade tariff front had propelled cryptocurrencies to a higher orbit a day ago.
Overall crypto market capitalization is currently at $2.9 trillion, implying losses of 0.6 percent in the past 24 hours.
Wall Street Indexes are trading with strong gains. Dow Jones has added 0.47 percent to the level of 39,791.40 whereas S&P 500 has rallied 1.2 percent to trade at 5,438.02. The Nasdaq Composite is trading at 16,986.24 implying overnight gains of 1.7 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 0.0.49 percent overnight to record a level of 99.35.
Gold however staged a rebound after Wednesday's rout. Gold Futures for June settlement are currently trading at $3,322.41, implying an overnight gain of 0.9 percent. Prices of the yellow metal which had touched an all-time high of $3,509.9 on April 22 traded between $3,301.50 and $3,376.15 during the past 24 hours.
Bitcoin has slipped 0.14 percent overnight to trade at $92,892.28, around 15 percent below the all-time high. The leading cryptocurrency traded between $94,212.90 and $91,696.71 during the past 24 hours.
Bitcoin Spot ETF products in the U.S. witnessed inflows of $917 million on Wednesday versus $913 million a day earlier. iShares Bitcoin Trust (IBIT) accounted for bulk of the flows with an inflow of $643 million.
Despite the slide in prices, Bitcoin's dominance of the crypto market increased to 63.6 percent, from 63.5 percent a day ago. BTC is trading in the red on a year-to-date basis.
The decline in prices and the drop in market capitalization to $1.84 trillion has dragged Bitcoin to the 8th position in the global ranking of all assets as per companiesmarketcap.com. It was ranked 6th a day ago.
Ethereum has also erased 2.1 percent in the past 24 hours to trade at $1,759. The leading alternate coin traded between $1,810 and $1,725 in the past 24 hours.
Ethereum Spot ETF products in the U.S. witnessed outflows of $24 million on Wednesday as compared with inflows $39 million a day earlier.
4th ranked XRP also lost 3 percent during the past 24 hours as it changes hands at $2.19.
5th ranked BNB declined 1.9 percent whereas 6th ranked Solana lost 0.7 percent during the past 24 hours. 8th ranked Dogecoin slipped 2.8 percent whereas 9th ranked Cardano shed 0.8 percent. 10th ranked TRON edged down 0.06 percent in the past 24 hours.
11th ranked Sui is the highest-ranking non-stablecoin crypto to trade with gains on an overnight basis. The surge of 3.5 percent comes amidst 21Shares filing for SUI-based ETF in the U.S.
41st ranked OFFICIAL TRUMP (TRUMP) topped overnight gains among the top 100 cryptocurrencies with a surge of 30.7 percent. The meme coin has surged more than 64 percent in the past week. Market capitalization of the memes category has however slipped 1.5 percent in the past 24 hours.
36th ranked POL (POL) followed with overnight gains of 17.5 percent.
61st ranked DeXe (DEXE) topped overnight losses among the top 100 cryptocurrencies with a decline of almost 11 percent. 63rd ranked Bonk (BONK) followed with losses of more than 7 percent.
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