WASHINGTON (dpa-AFX) - Cryptocurrencies are trading mixed amidst fears of a partial shutdown of the U.S. government dragging down the U.S. Dollar. Strong inflows to Bitcoin and Ethereum spot ETF products in the U.S. on Monday supported crypto market sentiment.
Ahead of the Fed's interest rate decision in October, markets are also bracing for labor market updates. The U.S. Bureau of Labor Statistics is scheduled to release on Tuesday morning the report on job openings in the U.S. for the month of August. Markets expect the number of job openings to edge up to 7.2 million from 7.18 million in July which was also the lowest level since September 2024. Markets are also gearing for the release of PMI readings and non-farm payrolls report over the course of the week.
Gold Futures for December settlement is currently trading at $3,844.55 per troy ounce, implying overnight losses of 0.28 percent. Gold Futures touched an all-time high of $3,899.15 earlier in the day's trade.
The 6-currency Dollar Index which measures the dollar's strength against a basket of 6 currencies is currently at 97.82, versus 97.91 at the previous close. The index has declined 0.08 percent from the previous close.
Overall crypto market capitalization added 0.55 percent in the past 24 hours to $3.88 trillion. The 24-hour trading volume also increased 27 percent to $180 billion. 14 of the top 100 cryptocurrencies have gained more than a percent whereas 25 have slipped more than a percent in the past 24 hours.
Bitcoin is currently trading at $113,136.34 recording overnight gains of 1 percent. BTC had ranged between $114,836.62 and $111,965.05 in the past 24 hours. The cryptocurrency is currently trading about 9 percent below the all-time-high of $124,457.12 recorded on August 14.
Ethereum also added 1.6 percent overnight to trade at $4,160.60. Ether's current trading price is 16 percent below its all-time-high. The 24-hour trading range was between $4,238.67 and $4,087.93.
Net inflows to Bitcoin-based Spot ETF products in the U.S. stood at $518 million on Monday versus outflows of $418 million on Friday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with inflows of $299 million. iShares Bitcoin Trust ETF (IBIT) however recorded outflows of $47 million.
Ethereum-based Spot ETF products witnessed net inflows of $547 million on Monday versus net outflows of $248 million on Friday. Fidelity Ethereum Fund (FETH) topped with net inflows of $202 million.
Bitcoin is currently ranked 8th and Ethereum 24th in the global ranking of all assets as per market capitalization compiled by companiesmarketcap.com.
4th ranked XRP edged down 0.04 percent overnight to trade at $2.85, around 26 percent below the all-time high.
5th ranked BNB gained 0.65 percent overnight at its current trading price of $1,008.47.
The price of 6th ranked Solana increased 0.5 percent overnight to $206.29.
8th ranked Dogecoin dropped 0.14 percent overnight and is currently changing hands at $0.2290.
TRON ranked 9th overall gained 0.6 percent overnight and is currently changing hands at $0.3353.
10th ranked Cardano edged down 0.15 percent overnight to trade at $0.7890.
45th ranked MemeCore (M) topped overnight gains among the top 100 cryptocurrencies with a gain of 6.3 percent. 96th ranked Sonic (S) followed with gains of 5 percent. 53rd ranked Plasma (XPL) topped overnight losses among the top 100 cryptocurrencies with a decline of more than 14 percent. 66th ranked Immutable (IMX) also erased more than 8 percent in the past 24 hours.
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