WASHINGTON (dpa-AFX) - Cryptocurrencies are trading deeply in the red amidst an escalation in geopolitical tensions in the Middle East.
Overall crypto market capitalization has decreased 2.3 percent in the past 24 hours. It is currently at $3.38 trillion. The 24-hour trading volume has decreased close to 4 percent overnight to $129 billion.
In tandem with the risk aversion, the CMC Crypto Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the emotional state of the market eased to 61 from 65 a day earlier. It nevertheless remains in territory denoting 'greed'.
Bitcoin erased 2.2 percent overnight to trade at $107,432. It is currently trading 4 percent below the all-time-high of $111,970 recorded on May 22. The original cryptocurrency traded between $110,384 and $106,611 during the past 24 hours.
The leading cryptocurrency with an overall market share of 63.2 percent is trading with gains of 3 percent over the 7-day horizon and 4.2 percent over the 30-day horizon. Year-to-date gains exceed 15 percent.
Ethereum declined 1.6 percent overnight to trade at $2,759. Ether has however gained 6.6 percent in the past week. Losses in 2025 have fallen to a little more than 17 percent. Ether's current trading price is 44 percent below its all-time-high. The 24-hour trading range was between $2,878 and $2,713.
Inflows to Bitcoin-based Spot ETF products in the U.S. recorded $165 million on Wednesday versus $431 million a day earlier. iShares Bitcoin Trust (IBIT) topped with outflows of $131 million.
Ethereum-based Spot ETF products witnessed inflows of $240 million on Wednesday versus inflows of $125 million on Tuesday.
Bitcoin is currently ranked 7th and Ethereum 34th in the ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked XRP lost more than 3 percent overnight to trade at $2.24, around 41 percent below the all-time high.
5th ranked BNB also shed 0.69 percent overnight at its current trading price of $664. The price of 6th ranked Solana dropped 4.1 percent overnight to $159.47.
8th ranked Dogecoin lost 5.8 percent overnight to trade at $0.1884. DOGE is currently trading 74 percent below the record high.
9th ranked TRON declined 4.9 percent overnight and is currently changing hands at $0.2772.
10th ranked Cardano also slipped 4.9 percent overnight to trade at $0.6845. The trading price is 78 percent below the cryptocurrency's all-time high.
55th ranked SPX6900 (SPX), 83rd ranked PAX Gold (PAXG), 82nd ranked Tether Gold (XAUt) and 91st ranked AB (AB) are the only cryptocurrencies among the top 100 to trade with overnight gains of more than a percent.
100th ranked Raydium (RAY) and 79th ranked Curve DAO Token (CRV) topped overnight losses among the top 100 cryptocurrencies with a decline of more than 9 percent.
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