WASHINGTON (dpa-AFX) - The negative sentiment in crypto sphere that followed the crypto flash-crash over the weekend deepened further amidst anxiety ahead of key economic updates from the U.S. Anxiety about the timing of Fed's potential rate cuts exacerbated ahead of release of GDP data on Thursday, PCE-based inflation on Friday and non-farm payrolls data a week later. Bitcoin has touched a 24-hour low of $108,762.
The price moves in the crypto market also coincided with the dollar's weakness attributed to reports of President Trump firing Fed Governor Lisa Cook and concerns about the potential politicization of U.S. monetary policy. Inflows to Bitcoin and Ethereum Spot ETF products in the U.S. however limited losses.
Cryptocurrency market capitalization has declined more than 2 percent overnight to $3.79 trillion. The 24-hour trading volume has also decreased 3.7 percent to $219 billion.
Among the top 100 cryptocurrencies, 73 are trading with overnight losses of more than a percent whereas only 2 are trading with overnight gains of more than a percent. Net inflows to Bitcoin-based Spot ETF products in the U.S. stood at $219 million on Monday versus net outflows of $23 million on Friday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with inflows of $66 million.
Ethereum-based Spot ETF products witnessed net inflows of $444 million on Monday versus $338 million on Friday. iShares Ethereum Trust (ETHA) topped with net inflows of $315 million.
Bitcoin is currently trading at $110,221.49, about 11 percent below the all-time-high of $124,457.12 recorded on August 14. The original cryptocurrency touched a high of $112,946.38 during the past 24 hours. The leading cryptocurrency is trading with losses of 1.3 percent in the past 24 hours, 4.6 percent over the 7-day period and 6.7 percent over the 30-day horizon. Year-to-date gains have fallen to a little above 18 percent.
Ethereum declined 3.8 percent overnight to trade at $4,427.15. Ether is however holding on to gains of 3.4 percent in the past week. Gains in 2025 now stand at a little less than 33 percent. Ether's current trading price is 11 percent below its all-time-high. The 24-hour trading range was between $4,678.99 and $4,316.30.
3rd ranked XRP slipped 1.4 percent overnight to trade at $2.91, around 24 percent below the all-time high. 5th ranked BNB shed 1.7 percent overnight at its current trading price of $844.65. The price of 6th ranked Solana decreased 4.9 percent overnight to $188.39. 8th ranked TRON erased 1.7 percent overnight and is currently changing hands at $0.3459. Dogecoin, ranked 9th overall slipped 4.6 percent overnight and is currently changing hands at $0.2104. 10th ranked Cardano slipped 3.1 percent overnight to trade at $0.8416.
97th ranked JasmyCoin (JASMY) topped overnight gains among the top 100 cryptocurrencies with a gain of 1.3 percent. 25th ranked Cronos (CRO) followed with gains of 1.1 percent.
90th ranked Fartcoin (FARTCOIN) topped overnight losses among the top 100 cryptocurrencies with a decline of 11.4 percent. 33rd ranked OKB (OKB) followed with overnight losses of more than 7 percent.
Meanwhile, the CoinShares' Digital Asset Fund Flows Weekly report for the week ended August 23 showed outflows of $1.43 billion, recording the largest outflows since March. The previous week had recorded net inflows of $3.75 billion, the fourth largest on record.
According to the report, investor sentiment became increasingly polarized over monetary policy in the U.S. Early in the week, pessimism around the Federal Reserve's stance drove outflows of $2 billion. However sentiment shifted later in the week following Jerome Powell's address at the Jackson Hole symposium, which was widely interpreted as more dovish than interpreted, sparking inflows of $594 million. Year-to-date inflows decreased to $33 billion from $34.4 billion at the end of the previous week, whereas the assets under management stood at $234.7 billion versus $233.85 billion at the end of the previous week. According to the report, Bitcoin topped flows by asset, iShares ETF topped flows by provider and United States topped flows by country during the week ended August 23.
Bitcoin-based products witnessed massive outflows of $1.03 billion. Ethereum-based products recorded outflows of $441 million followed by Sui-based products that recorded outflows of $12.9 million. XRP-based products however recorded inflows of $25 million followed by Solana-based products that recorded inflows of $12 million. More than 76 percent of the cumulative AUM of $234.7 billion is attributed to Bitcoin products that account for an AUM of $178.7 billion. Bitcoin's dominance of crypto market is much lower, at close to 58 percent.
AUM of Ethereum-based products stood at $40.7 billion. Multi-asset portfolios command assets under management of $7.9 billion. An AUM of $2.9 billion is attributed to Solana-based products. XRP-based products have AUM of $2.8 billion followed by Sui-based products with an AUM of $322 million.
The provider-wise analysis of flows inter alia shows outflows of $623 million from iShares ETF. Grayscale Investments recorded outflows of $260 million followed by Fidelity Wise Origin Bitcoin Fund that witnessed outflows of $235 million. ARK 21Shares also recorded outflows of $182 million.
iShares ETF tops with a cumulative AUM of $104.1 billion implying a share of 44.3 percent. Though outflows exceed $1.6 billion in 2025, Grayscale Investments still accounts for an AUM of $36.7 billion, which is 15.6 percent of the cumulative AUM of $234.7 billion. Fidelity Wise Origin Bitcoin Fund commands an AUM of $23.2 billion followed by 21Shares that has an AUM of $5.4 billion.
The top 3 viz iShares, Grayscale Investments and Fidelity Wise Origin Bitcoin Fund together account for more than 69.87 percent of the total AUM.
In addition to Grayscale Investments, ARK 21Shares and CoinShares XBT have recorded negative flows in the year-to-date period.
United States witnessed outflows of $1.3 billion during the period followed by Sweden that recorded outflows of $135.5 million. Switzerland also saw outflows of $11.8 million. Germany recorded inflows of $18.4 million.
Of the cumulative AUM of $234.7 billion, $163.4 billion or 69.6 percent is in United States. Switzerland follows with an AUM of $7.5 billion whereas Canada accounts for an AUM of $7.4 billion. Germany accounts for an AUM of $7.2 billion.
Sweden and Brazil have recorded net outflows over the year-to-date period.
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