WASHINGTON (dpa-AFX) - The surge in cryptocurrencies at the beginning of the new year has lost momentum as many of the top-ranked cryptocurrencies recorded overnight declines. The widening geopolitical strife as well as anxiety ahead of the crucial jobs data from the U.S. weighed heavily on sentiment. The outflows from Bitcoin Spot ETF products in the U.S. on Wednesday also dragged down crypto prices.
Data released on Wednesday showed the ISM Services PMI for the US increasing to 54.4 in December from 52.6 in November. The readings surpassed forecasts of 52.3. According to data from the US Bureau of Labor Statistics released on Wednesday, job openings in the U.S recorded 7.1 million in November. Markets had expected a level of 7.6 million. The number of job openings for October was also revised down to 7.4 million.
All eyes are now on the jobs data for December due on Friday morning. Data to be released by the U.S. Bureau of Labor Statistics is expected to show an addition of 60 thousand to non-farm payrolls in December. November had witnessed an addition of 64 thousand. The unemployment rate which was 4.6 percent in November is however expected to decline to 4.5 percent.
The clarification issued by MSCI regarding the treatment of digital asset treasury companies limited losses for cryptocurrencies in general and Bitcoin in particular. The MSCI announced that it has determined at this time not to implement the proposal to exclude digital asset treasury companies from the MSCI Global Investable Market Indexes as part of the February 2026 Index Review.
The decision allowed Virgina-headquartered Strategy Inc (MSTR) to continue in the benchmark equity indices. Concern had gripped markets as an exclusion from the indices was feared to trigger forced selling by passive index funds. With Bitcoin holdings of close to 674 thousand, the company tops the list of Bitcoin Treasury companies.
Overall crypto market capitalization is currently at $3.08 trillion, decreasing close to 2.5 percent overnight. The 24-hour trading volume has also decreased 20 percent overnight to $110 billion. Around 75 of the top 100 cryptocurrencies are trading with overnight losses of more than a percent. Only seven among the top 100 cryptocurrencies are now trading with overnight gains of more than a percent.
Bitcoin has declined 2.4 percent in the past 24 hours to trade at $89,980.43. The current price is around 29 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has rallied 2.6 percent in the past week. The 24-hour trading ranged between $92,189.20 and $89,578.31. Bitcoin currently dominates 58.4 percent of the overall crypto market.
Bitcoin Spot ETF products in the U.S. witnessed net outflows of $486 million on Wednesday, rising from $243 million on Tuesday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with outflows of $248 million, a tad lower than $312 million recorded on the prior day.
Ethereum lost 3.5 percent overnight to trade at $3,110.30. The leading alternate coin is now trading 37 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $3,224.93 and $3,091.03. Ether's crypto market dominance is currently around 12.2 percent.
Ethereum Spot ETF products in the U.S. witnessed net outflows of $98 million on Wednesday versus net inflows of $115 million on Tuesday. Grayscale Ethereum Trust (ETHE) topped with net outflows of $52 million.
Bitcoin continues to be ranked 8th in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. Ethereum has however slipped two notches to the 38th position.
4th ranked XRP has plunged 7.6 percent overnight to trade at $2.08, around 46 percent below the all-time high of $3.84 touched on January 4, 2018.
5th ranked BNB slipped 2.9 percent overnight resulting in price decreasing to $884.00. BNB is trading 36 percent below the all-time high of $1,370.55 touched on October 13, 2025.
The price of 6th ranked Solana dropped 2.6 percent overnight to $134.35. SOL's current price is around 54 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON ranked 8th overall however gained 0.37 percent overnight and is currently changing hands at $0.2959. The trading price is 33 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Dogecoin slipped 5.8 percent overnight and is currently trading at $0.1403. DOGE is now trading 81 percent below the previous peak of $0.7376 recorded on May 8, 2021.
10th ranked Cardano declined 6.4 percent overnight to trade at $0.3885. ADA is currently trading 87 percent below the record high of $3.10 touched on September 2, 2021.
97th ranked Chiliz (CHZ) topped overnight gains among the top 100 cryptocurrencies with a gain of 3.6 percent. 26th ranked world Liberty Financial (WLFI) followed with overnight gains of 3.3 percent.
18th ranked Zcash (ZEC) topped overnight losses among the top 100 cryptocurrencies with a decline of 19.8 percent. 75th ranked Pump.fun (PUMP) followed with losses of close to 16 percent.
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