WASHINGTON (dpa-AFX) - Cryptocurrencies declined in the past 24 hours as global markets braced for President Donald Trump's address at the World Economic Forum at Davos on Wednesday afternoon. The speech assumes significance as global markets continue to grapple with the turmoil triggered by the President's tariff threats tied to Greenland.
The inverse correlation of cryptocurrencies with gold continued on Wednesday as well. While Bitcoin shed 2.1 percent overnight, gold futures have added more than 2 percent in the past 24 hours.
Gold Futures for February settlement are currently trading at $4,863.25 per troy ounce, jumping more than 2 percent in the past 24 hours. Prices touched an all-time high of $4,890.35 earlier in the trade.
Overall crypto market capitalization is currently at $3.01 trillion, decreasing 2.1 percent overnight. 15 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent. At the same time, 52 of the top 100 cryptocurrencies are trading with overnight losses of more than a percent.
The weakening in the sentiment prevailing in the cryptocurrency market was reflected in the CMC Fear and Greed Index as well. The index, a proprietary tool developed by CoinMarketCap to measure the prevailing sentiment in the cryptocurrency market slipped from the 'neutral' territory to the 'fear' territory with a decline to 32. The reading stood at 42 a day earlier and 52 a week earlier.
Data from Coinglass showed crypto liquidations - forced closure of a trader's leveraged position by an exchange or lending protocol for insufficient funds (margin or collateral) to cover potential losses - of $862 million in the past 24 hours. The total liquidations consisted of long positions of $754 million and short positions of $108 million.
Crypto markets also witnessed massive outflows from Bitcoin and Ethereum Spot ETF products in the U.S. on Tuesday.
Bitcoin Spot ETF products in the U.S. witnessed net outflows of $480 million on Tuesday, rising from $395 million on Monday. Grayscale Bitcoin Trust ETF (GBTC) topped with outflows of $161 million followed by Fidelity Wise Origin Bitcoin Fund (FBTC) that witnessed outflows of $152 million.
Ethereum Spot ETF products in the U.S. witnessed net outflows of $230 million on Tuesday versus inflows of $5 million on Monday. iShares Ethereum Trust ETF (ETHA) topped with net outflows of $92 million.
Bitcoin has declined 2.14 percent in the past 24 hours to trade at $89,199.89. 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 slipped 6.1 percent in the past week but is holding on to year-to-date gains of 1.9 percent. The 24-hour trading ranged between $91,343.84 and $87,814.93.
Ethereum has slipped 4.6 percent overnight to trade at $2,961.33. The leading alternate coin is now trading 40 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $3,111.04 and $2,921.12.
Bitcoin currently dominates 59.19 percent of the overall crypto market. Ethereum's share of the crypto market is currently at 11.90 percent.
4th ranked BNB slipped 4.4 percent overnight resulting in price decreasing to $874.03. BNB is trading 36 percent below the all-time high of $1,370.55 touched on October 13, 2025.
5th ranked XRP slipped 1.2 percent overnight to trade at $1.90, around 50 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana decreased 1.2 percent overnight to $127.55. SOL's current price is around 57 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON ranked 8th overall dropped 2.8 percent overnight and is currently changing hands at $0.2960. 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 0.9 percent overnight and is currently trading at $0.1244. DOGE is now trading 83 percent below the previous peak of $0.7376 recorded on May 8, 2021.
10th ranked Cardano also lost 0.74 percent overnight to trade at $0.3577. ADA is currently trading 88 percent below the record high of $3.10 touched on September 2, 2021.
23rd ranked Canton (CC) and 77th ranked LayerZero (ZRO) topped overnight gains among the top 100 cryptocurrencies with gains of more than 11 percent. 98th ranked Lighter (LIT) followed with overnight gains of 7.1 percent.
12th ranked Monero (XMR) topped overnight losses among the top 100 cryptocurrencies with a decline of 14.6 percent. 17th ranked Hyperliquid (HYPE) followed with overnight losses of 8.9 percent.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
