WASHINGTON (dpa-AFX) - Major cryptocurrencies are trading on a muted note on Friday amidst reports of whale selloffs and leveraged liquidations. The diminishing momentum in altcoins also drove market cap lower. The price movement is also attributed to anxiety ahead of key macroeconomic updates and decisions in the ensuing week. Bitcoin touched a 24-hour low of $114,759.82.
Major events lined up for the coming week are the release of JOLTs job openings data for June due on Tuesday, advance estimates of second quarter GDP and the Fed's interest rate decision due on Wednesday, PCE-based inflation readings for June due on Thursday and payrolls data as well as ISM Manufacturing PMI for July due on Friday.
The European Central Bank had on Thursday held rates steady as widely expected. The ECB preferred to adopt a wait-and-watch stance, as they evaluated the impact of lingering trade uncertainty and the potential fallout from the proposed U.S. tariffs on economic growth as well as inflation.
Strong inflows to crypto Spot ETF products in the U.S. on Thursday limited losses. Inflows to Bitcoin-based Spot ETF products in the U.S. recorded $227 million on Thursday as compared with outflows of $86 million on Wednesday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with inflows of $107 million. Ethereum-based Spot ETF products witnessed inflows of $231 million versus inflows of $332 million on Wednesday. Of the inflows, $210 million is attributed to Fidelity Ethereum Fund (FETH).
Among the top 100 cryptocurrencies, 25 are trading with overnight gains of more than a percent and 22 are trading with overnight losses of more than a percent. With the bullish momentum in cryptosphere fading, overall market capitalization has fallen more than 1 percent overnight to $3.83 trillion. The 24-hour trading volume is nevertheless flat at $227 billion.
Amidst the overnight decline, Bitcoin's crypto market dominance has decreased to 60.5 percent from 61 percent a day earlier. Ethereum's market cap dominance has increased to 11.7 percent from the level of 11.3 percent a day earlier. The market share of the residual altcoins is steady at 27.7 percent.
Bitcoin declined 1.8 percent overnight to trade at $116,585.09, which is 5 percent below the all-time high of $123,091 recorded on July 14. The 24-hour trading range was between $119,535.45 and $114,759.82.
With the overnight decline dragging market capitalization to $2.32 trillion, Bitcoin has slipped to the 7th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Ethereum rallied 1.9 percent in the past 24 hours to trade at $3,728.75 which is 24 percent below the all-time high. Ether traded between $3,771.38 and $3,579.96 in the past 24 hours.
Ethereum is holding on to the 25th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
3rd ranked XRP dropped 1 percent overnight to trade at $3.14, around 18 percent below the all-time high. Weekly losses are close to 9.8 percent.
5th ranked BNB edged up 0.32 percent overnight lifting weekly gains to 4.9 percent. Gains are close to 20 percent over the 30-day period and more than 10 percent over the year-to-date period. At its current trading price of $774.06, the cryptocurrency is trading 4 percent below the all-time-high of $809.31 recorded on July 23.
The price of 6th ranked Solana dropped 2.8 percent overnight to $181.30. With loses of 6.5 percent, SOL is the highest-ranking crypto to trade with losses on a year-to-date basis.
8th ranked Dogecoin (DOGE) extended losses with an overnight decline of 3.1 percent. The meme coin has shed 3.5 percent over the past week but is holding on to gains of more than 40 percent over the past 30 days. Nevertheless, on a year-to-date basis, DOGE is trading in the red. At its current trading price of $0.2313, DOGE has erased more than 28 percent till date in 2025.
9th ranked TRON added 1.2 percent overnight and is currently changing hands at $0.3128.
10th ranked Cardano has slipped 0.4 percent overnight to trade at $0.8105. ADA has lost 11.7 percent till date in 2025.
100th ranked Maple Finance (SYRUP) topped overnight gains among the top 100 cryptocurrencies with a surge of almost 21 percent. 32nd ranked Ethena (ENA) followed with an overnight addition of more than 18 percent.
84th ranked Pump.fun (PUMP) is the greatest laggard among the top 100 cryptocurrencies with an overnight decline of 14.6 percent. 85th ranked Tezos (XTZ) followed with a decline of 8.1 percent in the past 24 hours.
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