WASHINGTON (dpa-AFX) - Cryptocurrencies staged an emphatic rally in the past 24 hours while Bitcoin touched an all-time-high of $125,559.21 a day ago. Fears of a prolonged shutdown of the U.S. government, massive inflows to Bitcoin spot ETF products in the U.S., the political crisis in France as well as hopes of a dovish monetary policy pivot by Bank of Japan bolstered market sentiment.
While mixed sentiment prevails in Wall Street, the dollar has rebounded, and gold touched a fresh all-time high.
Gold Futures for December settlement is currently trading at $3,968.97 per troy ounce, implying overnight gains of 1.5 percent. Gold Futures touched an all-time high of $3,974.27 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 98.17, versus 97.72 at the previous close. The index has gained 0.45 percent from the previous close.
Overall crypto market capitalization surged 1.6 percent in the past 24 hours to $4.28 trillion. The 24-hour trading volume however declined 8.2 percent to $167 billion. 58 of the top 100 cryptocurrencies have gained more than a percent whereas 5 have slipped more than a percent in the past 24 hours.
Bitcoin is currently trading at $124,542.27 recording overnight gains of 1.2 percent. BTC had ranged between $125,337.53 and $122,459.36 in the past 24 hours. The cryptocurrency is currently trading about 1 percent below the all-time-high of $125,559.21 recorded on October 5.
Ethereum also surged 2.3 percent overnight to trade at $4,642.58. Ether's current trading price is 6 percent below its all-time-high. The 24-hour trading range was between $4,661.57 and $4,480.27.
Bitcoin-based Spot ETF products in the U.S. had witnessed massive inflows of $985 million on Friday versus inflows of $627 million on Thursday. iShares Bitcoin Trust ETF (IBIT) topped with inflows of $792 million.
Ethereum-based Spot ETF products had recorded net inflows of $234 million on Friday versus inflows of $307 million on Thursday. iShares Ethereum Trust ETF (ETHA) topped with inflows of $207 million.
3rd ranked XRP edged down 0.14 percent overnight to trade at $2.99, around 22 percent below the all-time high.
5th ranked BNB gained 4.4 percent overnight at its current trading price of $1,213.23.
The price of 6th ranked Solana increased 1.5 percent overnight to $233.31.
8th ranked Dogecoin added 2.6 percent overnight and is currently changing hands at $0.2620.
TRON ranked 9th overall gained 0.8 percent overnight and is currently changing hands at $0.3454.
10th ranked Cardano gained 1.1 percent overnight to trade at $0.8634.
37th ranked Aster (ASTER) and 75th ranked PancakeSwap (CAKE) topped overnight gains among the top 100 cryptocurrencies with a gain of more than 14 percent. 21st ranked Mantle (MNT) also added more than 12 percent.
49th ranked Pump.fun (PUMP) topped overnight losses among the top 100 cryptocurrencies with a decline of more than 6 percent. 46th ranked DoubleZero (2Z) also erased 3.9 percent in the past 24 hours.
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