WASHINGTON (dpa-AFX) - Cryptocurrencies recorded strong price gains in the past 24 hours in the wake of reports of a ceasefire between Israel and Iran. Stocks and stock futures also rallied as risk appetite improved. Crude oil and Gold Futures however plunged heavily. Safe-haven dollar also retreated. Sovereign bond yields increased, and prices decreased as markets cheered the easing in geopolitical tensions.
Anxiety ahead of Fed Chair's congressional testimony however limited gains. As part of the semi-annual monetary policy report to the Congress, Fed Chair Jerome Powell would testify before the House Financial Services Committee on Tuesday morning and the Senate Committee on Banking, Housing and Urban Affairs on Wednesday morning.
Also weighing on sentiment are the pending updates on final first quarter GDP reading due on Thursday and the Fed's preferred PCE-based inflation readings for the month of May due on Friday.
Overall crypto market capitalization has jumped 4.6 percent in the past 24 hours. It is currently at $3.25 trillion. The 24-hour trading volume has increased more than 12 percent overnight to $156 billion.
Reflecting the global rebound, the CMC Crypto Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the emotional state of the market jumped to 47 that indicates a 'neutral' market state. The reading was at 37 a day earlier, implying a state of 'fear'.
Bitcoin rallied 3.7 percent overnight to trade at $105,216.00. It is currently trading 6 percent below the all-time-high of $111,970 recorded on May 22. The original cryptocurrency traded between $106,117 and $99,706 during the past 24 hours. The leading cryptocurrency is trading with losses of 0.8 percent over the 7-day horizon and 1.9 percent over the 30-day horizon. Year-to-date gains are at 12.7 percent.
Ethereum jumped 7.2 percent overnight to trade at $2,411. Ether has shed 5.9 percent in the past week. Losses in 2025 have fallen to a little less than 28 percent. Ether's current trading price is 51 percent below its all-time-high. The 24-hour trading range was between $2,447 and $2,191.
Inflows to Bitcoin-based Spot ETF products in the U.S. recorded $351 million on Monday versus $6 million a day earlier. iShares Bitcoin Trust (IBIT) topped with outflows of $218 million.
Ethereum-based Spot ETF products witnessed inflows of $101 million on Monday versus outflows of $11 million on Friday.
Bitcoin's crypto market dominance which had touched a yearly high of 64.9 percent a day ago is currently at 64.4 percent. Ether dominates 9 percent of the overall crypto market whereas the residual cryptocurrencies command a market share of 26.6 percent.
Bitcoin is currently ranked 6th and Ethereum 39th in the ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked XRP leaped 9.4 percent overnight to trade at $2.18, around 43 percent below the all-time high.
5th ranked BNB also gained 3 percent overnight at its current trading price of $638. The price of 6th ranked Solana jumped 7.3 percent overnight to $143.61.
8th ranked TRON added 2 percent overnight and is currently changing hands at $0.2719.
9th ranked Dogecoin added 7.5 percent overnight to trade at $0.1634. DOGE is currently trading 78 percent below the record high.
10th ranked Cardano gained 7.1 percent overnight to trade at $0.5818. The trading price is 81 percent below the cryptocurrency's all-time high.
52nd ranked Sei (SEI) topped overnight gains among the top 100 cryptocurrencies with a gain of close to 40 percent. 65th ranked Virtuals Protocol (VIRTUAL) followed with gains of 19.3 percent.
77th ranked Tether Gold (XAUt) and 75th ranked PAX Gold (PAXG) are the only cryptocurrencies among the top 100 cryptocurrencies to trade with overnight losses of more than 1 percent. The leading cryptocurrencies in the Tokenized Gold category reflected the plunge in the prices of gold following the easing in geopolitical tensions.
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