WASHINGTON (dpa-AFX) - Cryptocurrencies are trading just below the flatline as sentiment remains impacted by the mixed economic data from the U.S. released on Thursday. Bitcoin is trading 4 percent below the all-time-high.
Data released on Thursday by the U.S. Bureau of Economic Analysis had showed the U.S. economy contracting at an annualized rate of 0.5 percent in the first quarter of 2025, recording the first quarterly contraction in three years. The decline was sharper than the second estimate of a 0.2-percent drop.
Data released by the U.S. Census Bureau showed new orders for manufactured goods jumped by 16.4 percent over a month to $343.6 billion in May. The sharpest increase since July 2014 contrasted with a revised 6.6 percent slump in April and exceeded market forecasts of an increase of 8.5 percent.
Data released by the U.S. Department of Labor showed initial jobless claims falling by 10,000 from the previous week to 236,000 on the week ending June 21. Markets had expected a steady reading. The level remained firmly above the year's average, portending some softening in the U.S. labor market.
The mixed economic data as well as anxiety ahead of the release of the Fed's preferred PCE-based inflation readings swayed rate cut expectations. The CME FedWatch tool that tracks the expectations of interest rate traders currently shows the likelihood of a quarter-percent rate cut by the Fed in late July at 20.7 percent. It was at 14.5 percent a week ago.
Overall crypto market capitalization has slipped 0.96 percent in the past 24 hours. It is currently at $3.28 trillion. The 24-hour trading volume also decreased more than 10 percent overnight to $100 billion.
Bitcoin slipped 0.6 percent overnight to trade at $106,926. It is currently trading 5 percent below the all-time-high of $111,970 recorded on May 22. The original cryptocurrency traded between $107,974 and $106,520 during the past 24 hours. The leading cryptocurrency is trading with gains of 1 percent over the 7-day horizon and losses of 1.6 percent over the 30-day horizon. Year-to-date gains are at 14.5 percent.
Ethereum slipped 1 percent overnight to trade at $2,451. Ether has shed 4 percent in the past week. Losses in 2025 have increased to a little more than 26 percent. Ether's current trading price is 50 percent below its all-time-high. The 24-hour trading range was between $2,467 and $2,386.
Inflows to Bitcoin-based Spot ETF products in the U.S. recorded $227 million on Thursday as compared with $548 million on Wednesday. iShares Bitcoin Trust (IBIT) topped with inflows of $164 million.
Ethereum-based Spot ETF products witnessed outflows of $26 million on Thursday as compared with inflows of $60 million on Wednesday.
Bitcoin's crypto market dominance is a tad below the yearly high of 65.1 percent recorded earlier in the day. It is currently at 64.9 percent, steady at the previous day's level. Ether dominates 9 percent of the overall crypto market whereas the residual cryptocurrencies command a market share of close to 26.0 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 lost 4 percent overnight to trade at $2.09, around 45 percent below the all-time high.
5th ranked BNB shed 0.5 percent overnight at its current trading price of $644.
The price of 6th ranked Solana dropped 1.5 percent overnight to $142.11.
8th ranked TRON edged up 0.2 percent overnight and is currently changing hands at $0.2711.
9th ranked Dogecoin declined 1.2 percent overnight to trade at $0.1615. DOGE is currently trading 78 percent below the record high.
10th ranked Cardano slipped 1.6 percent overnight to trade at $0.5579. The trading price is 82 percent below the cryptocurrency's all-time high.
31st ranked Aptos (APT) and 47th ranked Sei (SEI) topped overnight gains among the top 100 cryptocurrencies with a gain of more than 6 percent. 66th ranked Fartcoin (FARTCOIN) followed with gains of close to 5 percent.
68th ranked Celestia (TIA) topped overnight losses among the top 100 cryptocurrencies with a decline of 7.7 percent. 65th ranked Kaia (KAIA) followed with losses of 7.3 percent.
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