WASHINGTON (dpa-AFX) - Cryptocurrencies extended gains in the past 24 hours even as markets braced for the Federal Reserve's first FOMC since the outbreak of the Middle East war. Though the massive spike in crude oil prices triggered by the conflict in the Middle East has renewed worries about inflation combat and interest rate hardening, crypto market sentiment remains firm. Bitcoin touched a high of $75,988 in the past 24 hours whereas Ethereum rose to a peak of $2,384.5 during the same period.
Overall crypto market capitalization has increased more than half a percent in the past 24 hours even as markets keep a watch on the war as well as the slew of interest rate decisions due from several major central banks over the course of the week. Inflows to U.S.-listed Bitcoin and Ethereum Spot ETF products supported sentiment.
The Federal Reserve is widely expected to hold rates steady at the current rate of 3.50-3.75 percent in its decision to be announced on Wednesday. The CME FedWatch tool that tracks the expectations of interest rate traders shows a 99.1 percent likelihood for a pause by the Federal Reserve.
The increase in crypto market capitalization comes amidst a firmer dollar, Wall Street futures trading below the flatline, a surge in crude oil prices and a mostly easing trend in global bond markets. Overall cryptocurrency market capitalization has increased 0.55 percent in the past 24 hours to $2.52 trillion while the 24-hour trading volume recorded an increase of almost 30 percent to $138 billion. Only 17 of the top 100 cryptocurrencies are trading with overnight losses of more than a percent whereas around 38 are trading with overnight gains of more than a percent.
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 $494 million comprising long positions of $166 million and short positions of $328 million.
Bitcoin (BTC), the largest cryptocurrency is trading 0.5 percent higher at $73,765.40. The current price is around 42 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has gained 4.2 percent in the past week but is still saddled with losses of 15.7 percent till date in 2026.
Bitcoin Spot ETF products in the U.S. witnessed net inflows increasing to $199 million on Monday from $180 million on Friday. Market leader iShares Bitcoin Trust ETF (IBIT) topped with net inflows of $139 million followed by Fidelity Wise origin Bitcoin Fund (FBTC) that recorded net inflows of $65 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) added 1.9 percent overnight as it traded at $2,311.13. The leading alternate coin is trading 53 percent below the all-time-high of $4,953.73 recorded on August 25, 2025.
Ethereum Spot ETF products in the U.S. witnessed net inflows of $36 million on Monday versus $27 million on Friday. Fidelity Ethereum Fund (FETH) topped with inflows of $35 million followed by iShares Staked Ethereum Trust ETF (ETHB) that recorded inflows of $32 million. iShares Ethereum Trust ETF (ETHA) however recorded outflows of $16 million.
Meanwhile, Ethereum has jumped four notches to the 57th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
XRP (XRP) improved to the 4th rank overall with an overnight surge of 2.5 percent, XRP is currently trading at $1.50, around 61 percent below the all-time high of $3.84 touched on January 4, 2018.
5th ranked BNB (BNB) slipped almost a percent overnight resulting in price decreasing to $671.58. BNB is trading 51 percent below the all-time high of $1,370.55 touched on October 13, 2025.
The price of 7th ranked Solana (SOL) increased almost a quarter percent overnight to $93.76. SOL's current price is around 68 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall gained 1.1 percent overnight and is currently changing hands at $0.3013. The trading price is 32 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Dogecoin (DOGE) slipped 0.43 percent overnight and is currently trading at $0.1004. DOGE is trading 86 percent below the peak price of $0.7376 recorded on May 8, 2021.
Hyperliquid (HYPE) regained the 10th rank overall with an overnight surge of 4.5 percent. Cardano (ADA) has been relegated to the 11th rank overall. HYPE is currently trading at $40.80, around 31 percent below the all-time high of $59.39 recorded on September 18,2025.
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