WASHINGTON (dpa-AFX) - Bitcoin is trading in the red whereas altcoins have rallied amidst mixed sentiment in the cryptocurrency market. Renewed rate cut hopes and Wall Street's tech rally supported crypto market sentiment. Massive outflows from ETF products in the U.S. however limited gains.
Bitcoin-based Spot ETF products in the U.S. recorded outflows of $324 million on Monday as compared with outflows of $812 million on Friday. iShares Bitcoin Trust ETF (IBIT) topped with outflows of $292 million.
Ethereum-based Spot ETF products witnessed outflows of $465 million on Monday versus outflows of $152 million on Friday. iShares Ethereum Trust ETF (ETHA) topped with outflows of $375 million.
Amidst Bitcoin's retreat, the original cryptocurrency's crypto market dominance has decreased to 60.8 percent from 61.4 percent a day earlier. Ethereum now commands 11.7 percent of the overall crypto market versus 11.4 percent a day earlier. The market share of the residual altcoins is currently at 27.5 percent. It was 27.2 percent a day earlier.
The CME FedWatch tool that tracks the expectations of interest rate traders currently shows expectations of a quarter point rate cut by the Fed in the September FOMC at 90.1 percent. It was 90.4 percent a day ago and 63.3 percent a week ago.
Overall crypto market capitalization has increased 0.13 percent. It is currently at $3.73 trillion. Only less than 20 percent of the top 100 cryptocurrencies are trading with overnight losses of more than 1 percent. The 24-hour trading volume has increased 28 percent overnight to $147 billion.
Bitcoin edged down 0.12 percent overnight to trade at $114,155.48. It is currently trading 7 percent below the all-time-high of $123,091.61 recorded on July 14. The original cryptocurrency traded between $115,729.47 and $113,648.46 during the past 24 hours.
The leading cryptocurrency is trading with losses of 4 percent over the 7-day horizon and gains of 5.3 percent over the 30-day horizon. Year-to-date gains are a little more than 22 percent.
Bitcoin is currently ranked 6th in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Ethereum rallied 1.9 percent overnight to trade at $3,632.73. Ether has lost 6 percent in the past week. Gains in 2025 now stand at 9.1 percent. Ether's current trading price is 26 percent below its all-time-high. The 24-hour trading range was between $3,734.98 and $3,562.44.
Ethereum has maintained the 25th position in the ranking of all assets as per market capitalization published by companiesmarketcap.com.
3rd ranked XRP rallied 1.3 percent overnight to trade at $3.03, around 21 percent below the all-time high.
5th ranked BNB edged down 0.21 percent overnight at its current trading price of $759.00.
The price of 6th ranked Solana increased 2.3 percent overnight to $167.23.
8th ranked TRON gained 0.6 percent overnight and is currently changing hands at $0.3330.
9th ranked Dogecoin rallied 1.2 percent overnight to trade at $0.2037.
10th ranked Cardano also added 0.5 percent overnight to trade at $0.7413.
35th ranked Mantle (MNT) topped overnight gains among the top 100 cryptocurrencies with a gain of 15.5 percent. 42nd ranked POL (POL) and 84th ranked Tezos (XTZ) followed with gains of more than 8.5 percent.
88th ranked MemeCore (M) topped overnight losses among the top 100 cryptocurrencies with a decline of 7.7 percent. 100th ranked Aerodrome Finance (AERO), 47th ranked Bonk (BONK) and 21st ranked Toncoin (TON) have all declined more than 4 percent in the past 24 hours.
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