WASHINGTON (dpa-AFX) - Bitcoin led cryptocurrencies higher as markets cheered the strong quarterly results from AI giant NVIDIA. The positive earnings helped curtail fears about the tech sector prospects in general and the AI narrative in particular, boosting the prices of cryptocurrencies. A surge in inflows to U.S.-listed Bitcoin and Ethereum Spot ETF products on Wednesday also supported the jump in cryptocurrency prices.
Overall cryptocurrency market capitalization has rallied more than 2 percent in the past 24 hours while Bitcoin jumped to a 24-hour high of $69,953.53.
Data from Coinglass shows short positions surpassing long positions in the 24-hour liquidation statistics, implying a short squeeze. 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 - in the past 24 hours stood at $565 million comprising long positions of $127 million and short positions of $438 million.
Overall cryptocurrency market capitalization has rallied 2.3 percent in the past 24 hours to $2.34 trillion. Along with the surge in prices, the 24-hour trading volume jumped 37 percent overnight to $129 billion.
Cryptocurrencies associated with AI & Big Data rallied 1.9 percent. Meme category cryptos also witnessed an addition of 1.8 percent in market capitalization. The Made in America cryptocurrencies recorded an overnight addition of 2.1 percent in market capitalization. Market capitalization of the cryptocurrencies identified for U.S. Strategic Crypto Reserve gained 2.9 percent overnight.
Amidst the risk-on sentiment, and a market capitalization of $315 billion, market share of stablecoins has decreased to 13.42 percent of the overall crypto market. Bitcoin commands a market share of 57.90 percent whereas Ethereum accounts for 10.62 percent of the overall crypto market.
Around 55 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent. Likewise, almost 65 percent of the top 100 cryptocurrencies are trading with weekly gains of more than a percent. 59th ranked pippin (PIPPIN) topped with overnight gains of 17.7 percent and weekly gains of more than 74 percent. The meme category cryptocurrency touched an all-time high a few hours ago.
The CMC Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the prevailing sentiment in the cryptocurrency market has increased to 16 from 11 a day earlier. Both the readings however connote a state of 'extreme fear' in the market. Over the past 52 weeks, the index ranged between 76 (extreme greed) recorded on May 23 and 5 (extreme fear) recorded on February 6.
Bitcoin (BTC), the largest cryptocurrency is trading 2.1 percent higher at $67,831.34. The current price is around 46 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has added 2.9 percent in the past week but is saddled with year-to-date losses of around 22.5 percent.
Bitcoin Spot ETF products in the U.S. witnessed net inflows rising to $507 million on Wednesday from $258 million a day earlier. Market leader iShares Bitcoin Trust ETF (IBIT) topped with inflows of $297 million. Grayscale Bitcoin Trust ETF (GBTC) followed with inflows of $103 million.
Bitcoin is continuing in the 13th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Ethereum (ETH) has also rallied 4.7 percent overnight as it rose to $2,062.29. The leading alternate coin is trading 58 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $2,145.51 and $1,963.09.
Ethereum Spot ETF products in the U.S. witnessed net inflows jumping to $157 million on Wednesday from $9 million on Tuesday. Fidelity Ethereum Fund (FETH) topped with inflows of $62 million.
Meanwhile, Ethereum has improved to the 72nd rank from the 81st position a day earlier in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked XRP (XRP) gained 1.2 percent overnight to trade at $1.43, around 63 percent below the all-time high of $3.84 touched on January 4, 2018.
5th ranked BNB (BNB) added 1.8 percent overnight resulting in price increasing to $626.04. BNB is now trading 54 percent below the all-time high of $1,370.55 touched on October 13, 2025.
The price of 7th ranked Solana (SOL) jumped 4 percent overnight to $87.56. SOL's current price is around 70 percent below its all-time-high of $294.33 recorded on January 19, 2025.
Solana Spot ETF products in the U.S. witnessed net inflows jumping to $31 million on Wednesday from $4 million on Tuesday. Bitwise Solana Staking ETF (BSOL) topped with inflows of $29 million.
TRON (TRX) ranked 8th overall edged up 0.27 percent overnight and is currently changing hands at $0.2866. The trading price is 35 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Dogecoin (DOGE) added 1.4 percent overnight and is currently trading at $0.0988. DOGE is trading 87 percent below the peak price of $0.7376 recorded on May 8, 2021.
Cardano (ADA) regained the 10th rank overall with an overnight surge of 4.2 percent. ADA is currently trading at $0.2923, around 91 percent below the record high of $3.10 touched on September 2, 2021.
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