WASHINGTON (dpa-AFX) - The hawkish tone in the Fed's forward guidance, anxiety ahead of looming macro-economic updates from the U.S. as well as nervousness ahead of speeches by key Fed officials kept crypto market sentiment subdued. Unabated outflows from Bitcoin and Ethereum linked spot ETF products in the U.S. also weighed on sentiment.
The U.S. Bureau of Economic Analysis is expected to release on Friday, the PCE-based inflation readings for September. The update on the Fed's preferred inflation gauge is expected to reveal a slight uptick from the levels in August.
Headline annual PCE Price Index is expected to edge up to 2.8 percent from 2.7 percent in the previous month while its core component is expected to remain steady at 2.9 percent. The headline monthly PCE price index is seen steady at 0.3 percent whereas its core component is expected to be steady at 0.2 percent.
Market's worries are also tied to a slew of economic data releases due from the U.S. in the coming week. These include ISM Manufacturing PMI for October, trade data for August and September, JOLTs job report for September, ADP employment change report for October, ISM Services PMI for October as well as pending updates related to initial and continuing jobless claims and non-farm payrolls. The Fed which has often reiterated its data-driven approach to monetary policy decision making is also anxiously awaiting updates from the labor market.
The next rate review by the Federal Reserve is scheduled for December 10. Going by the CME FedWatch tool, the expectations of a quarter percentage rate cut in December has moderated to 68.8 percent from 72.8 percent a day ago and 91.7 percent a week ago. The continuing outflows from crypto Spot ETF products in the U.S. also weighed on sentiment.
Bitcoin-based Spot ETF products in the U.S. witnessed outflows of $488 million on Thursday versus $471 million on Wednesday. iShares Bitcoin Trust ETF (IBIT) topped with outflows of $291 million.
Ethereum-based Spot ETF products witnessed outflows of $184 million on Thursday versus $81 million on Wednesday. iShares Ethereum Trust ETF (ETHA) topped with outflows of $118 million.
Gold Futures for December settlement is currently trading at $4,021.50 per troy ounce, implying overnight gains of 0.14 percent. The yellow metal has shed 2.8 percent in the past week but is holding on to gains of more than 52 percent on a year-to-date basis.
The 6-currency Dollar Index which measures the dollar's strength against a basket of 6 currencies is currently at 99.55, versus 99.53 at the previous close.
Aggregate crypto market capitalization declined 1.1 percent overnight. Only 6 of the top 100 cryptocurrencies have gained more than a percent overnight whereas 73 have declined more than 1 percent.
Bitcoin has edged down to $109,982.94, around 13 percent below the all-time high of $126,198.07 recorded on October 7. The original cryptocurrency recorded losses of 1.1 percent over the past week and gains of more than 17 percent till date in 2025. The 24-hour trading range was between $110,371.49 and $106,376.69.
Ethereum also tumbled 1.1 percent overnight to trade at $3,849.44. Gains in 2025 stand at 15.6 percent. Ether's current trading price is 22 percent below its all-time-high. The 24-hour trading ranged between $3,897.76 and $3,681.91.
4th ranked BNB dropped 2.6 percent overnight to trade at $1,091.36, around 20 percent below the all-time high.
5th ranked XRP declined 1.9 percent overnight at its current trading price of $2.50.
The price of 6th ranked Solana decreased 2.4 percent overnight to $187.17. With losses of 1.1 percent, SOL is the highest-ranking cryptocurrency to trade with year-to-date losses.
8th ranked Dogecoin lost 1.7 percent overnight and is currently changing hands at $0.1857. DOGE has lost more than 41 percent till date in 2025.
TRON ranked 9th overall slipped 0.22 percent overnight and is currently changing hands at $0.2957.
10th ranked Cardano dropped 3.2 percent overnight to trade at $0.6123.
21st ranked Zcash (ZEC) rallied 5.4 percent followed by 71st ranked Aerodrome Finance (AERO) that added 3.9 percent.
52nd ranked Pump.fun (PUMP) topped overnight losses among the top 100 cryptocurrencies with a decline of 10.1 percent. 88th ranked DoubleZero (2Z) followed with overnight losses of 9.8 percent.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News