WASHINGTON (dpa-AFX) - Positive sentiment prevails in crypto markets as markets price in the expected downward revision to jobs data in the U.S. The annual exercise by the U.S. Bureau of Labor Statistics for the period through March 2025 is expected to see a significant downsizing of the jobs data earlier reported. Markets expect the deterioration in the American job landscape to goad the Fed to ease faster and larger than now perceived.
The CME FedWatch tool that tracks the expectations of interest rate traders shows the probability of a quarter-percentage rate cut by the Fed in September at 92 percent. It was 89.4 percent on Friday.
While 73 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent, 7 are trading with overnight losses of more than a percent. Amidst this backdrop, aggregate market capitalization has increased by 1.2 percent to $3.91 trillion.
Bitcoin is currently ranked 8th and Ethereum 24th in the global ranking of all assets as per market capitalization compiled by companiesmarketcap.com.
Bitcoin's crypto market dominance stands at 57.4 percent while Ethereum's share accounts for 13.5 percent of the overall crypto market.
Bitcoin has gained 0.7 percent overnight to $112,746.63, about 9 percent below the all-time-high of $124,457.12 recorded on August 14. The 24-hour trading ranged between $113,225 and $111,142 in the past 24 hours.
Ethereum added 1.1 percent overnight to trade at $4,362.00. Ether's current trading price is 12 percent below its all-time-high. The 24-hour trading range was between $4,381 and $4,278.
3rd ranked XRP rallied 2.7 percent overnight to trade at $3.02, around 21 percent below the all-time high. 5th ranked BNB added half percent overnight at its current trading price of $881.84. The price of 6th ranked Solana increased 2 percent overnight to $217.97. 8th ranked Dogecoin jumped 6.3 percent overnight and is currently changing hands at $0.2479. TRON ranked 9th overall gained 1.4 percent overnight and is currently changing hands at $0.3376. 10th ranked Cardano surged 4.6 percent overnight to trade at $0.8906.
39th ranked MYX Finance (MYX) topped overnight gains among the top 100 cryptocurrencies with a whopping gain of close to 142 percent.
74th ranked Four (FORM) topped overnight losses among the top 100 cryptocurrencies with a decline of close to 25 percent.
Meanwhile, the CoinShares' Digital Asset Fund Flows Weekly report for the week ended September 6 showed net outflows of $352 million versus net inflows of $2.48 billion during the week ended August 30. According to the report, the week witnessed minor outflows as weak payrolls did not seem to bolster sentiment.
Year-to-date inflows decreased to $35.2 billion from $35.5 billion at the end of the previous week, whereas the assets under management increased to $223.6 billion from $219.9 billion at the end of the previous week. According to the report, Ethereum topped flows by asset, Grayscale Investments topped flows by provider and United States topped flows by country during the week ended September 6.
During the week, Ethereum recorded outflows of $912 million whereas Bitcoin recorded inflows of $524 million. Solana-based products witnessed inflows of $16.1 million followed by XRP-based products that registered inflows of $14.7 million.
Close to 76.7 percent of the cumulative AUM of $223.6 billion is attributed to Bitcoin products that account for an AUM of $171.6 billion. Bitcoin's dominance of crypto market is much lower, at close to 57 percent.
AUM of Ethereum-based products stood at $36.7 billion. Multi-asset portfolios command assets under management of $7.7 billion. An AUM of $3.3 billion is attributed to Solana-based products. XRP-based products have AUM of $2.7 billion followed by Sui-based products with an AUM of $308 million.
The provider-wise analysis of flows inter alia shows outflows of $131 million from Grayscale Investments. Bitwise Funds Trust recorded outflows of $126 million. ProShares ETF recorded inflows of $126 million followed by iShares ETF that received inflows of $122 million.
iShares ETF tops with a cumulative AUM of $99.6 billion implying a share of 44.5 percent. Though outflows exceed $1.7 billion in 2025, Grayscale Investments still accounts for an AUM of $34.4 billion, which is 15.4 percent of the cumulative AUM of $223.6 billion. Fidelity Wise Origin Bitcoin Fund commands an AUM of $22.2 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 close to 69.9 percent of the total AUM.
In addition to Grayscale Investments, ARK 21Shares and CoinShares XBT continue to record negative flows in the year-to-date period.
United States topped with outflows of $440 million during the period followed by Germany that recorded inflows of $85.1 million. Sweden also recorded outflows of $13.5 million.
Of the cumulative AUM of $223.6 billion, $155.6 billion or 69.6 percent is in United States. Switzerland follows with an AUM of $7.4 billion whereas Germany accounts for an AUM of $7.1 billion. Canada follows with an AUM of $7 billion.
Sweden and Brazil continue to record net outflows over the year-to-date period.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
