WASHINGTON (dpa-AFX) - Negative sentiment prevails in cryptocurrency market early on Friday as markets reacted adversely to the delay in progressing the CLARITY Act in the U.S. Senate. Outflows from U.S.-listed Bitcoin and Ethereum Spot ETF products on Thursday also dampened crypto market sentiment.
The Digital Asset Market Clarity Act of 2025 which was passed by the U.S. House of Representatives in July 2025 has been stalled at the Senate following dispute between banks and crypto industry on the contentious issue of stablecoin yields. Though crypto industry has been keen on passing the Bill before the midterm elections, banks have been citing potential deposit flight to stall the progress.
Market sentiment has also been impacted by the ETF outflows on Thursday. Bitcoin Spot ETF products in the U.S. witnessed net outflows of $228 million on Thursday in sharp contrast with net inflows of $462 million on Wednesday. Market leader iShares Bitcoin Trust ETF (IBIT) topped with outflows of $89 million. Fidelity Wise origin Bitcoin Fund (FBTC) followed with net outflows of $48 million.
Ethereum Spot ETF products in the U.S. witnessed net outflows of $91 million on Thursday as compared with net inflows of $169 million on Wednesday. Market leader iShares Ethereum Trust ETF (ETHA) witnessed net inflows of $30 million which was more than offset by net outflows in others. Fidelity Ethereum Fund (FETH) topped net outflows with $115 million.
Anxiety ahead of the release of the monthly jobs data for February from the U.S. on Friday also weighed on sentiment. While the unemployment rate is expected to remain steady at 4.3 percent, the additions to non-farm payrolls is expected to record 59 thousand versus 130 thousand in the previous month. Rate cut expectations from the Federal Reserve has weakened sharply after the Middle East war amidst a jump in crude oil prices and a potential inflationary spiral.
According to the CME FedWatch tool, the likelihood of the Fed cutting interest rates by a quarter percentage on March 18 has declined to 2.7 percent from 7.4 percent a week earlier. Expectations of a rate cut of 0.25 percent or more in the FOMC on April 18 has also declined to 12.8 percent from 24.7 percent a week earlier.
Amidst the market developments and the volatility attributed to the Middle East war, overall crypto market capitalization has declined. Meanwhile, the six-currency Dollar Index slipped mildly, crude oil benchmarks recorded strong gains, and Gold is trading firmly in the green. Bond yields have however hardened on an overnight basis.
Overall crypto market capitalization decreased 2.3 percent in the past 24 hours to $2.39 trillion. The 24-hour trading volume also decreased almost 30 percent to $103 billion.
Bitcoin (BTC), the largest cryptocurrency is trading 3.2 percent lower at $70,407.94. The current price is around 44 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has gained 3.5 percent in the past week but is saddled with year-to-date losses of close to 20 percent. The 24-hour trading ranged between $73,555.79 and 70,144.29.
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 lost 3.4 percent overnight as it dropped to $2,057.18. The leading alternate coin is trading 56 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $2,163.04 and $2,056.02.
Meanwhile, Ethereum has slipped to the 71st rank in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) shed 2.2 percent overnight resulting in price decreasing to $639.92. BNB is now trading 53 percent below the all-time high of $1,370.55 touched on October 13, 2025.
5th ranked XRP (XRP) lost more than 2 percent overnight to trade at $1.39, around 64 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) plunged 4.2 percent overnight to $87.46. SOL's current price is around 70 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall rallied 0.76 percent overnight and is currently changing hands at $0.2864. The trading price is 35 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024. The price movement comes amidst reports of the U.S. Securities and Exchange Commission reaching a settlement with Tron and founder Justin Sun.
9th ranked Dogecoin (DOGE) declined 3.5 percent overnight and is currently trading at $0.0927. DOGE is trading 87 percent below the peak price of $0.7376 recorded on May 8, 2021.
10th ranked Cardano (ADA) recorded an overnight loss of 2.5 percent. ADA is currently trading at $0.2663, around 91 percent below the record high of $3.10 touched on September 2, 2021.
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