WASHINGTON (dpa-AFX) - Cryptocurrencies rebounded emphatically in the past 24 hours, lifting overall market capitalization by close to 5 percent. Expectations of a progress in talks to end the U.S.-Iran war as well as the slide in crude oil prices boosted market sentiment, triggering bullish momentum and a short squeeze. Bitcoin touched a high of $74,933 and Ethereum climbed to a level of $2,395 during the 24-hour period.
Sentiment for cryptocurrencies has also been boosted by an assessment that Bank of Japan would not be hiking rates at its next review due on April 28. The expectation is attributed to the recent speech by Bank of Japan governor Kazuo Ueda who appeared to consciously avoid hints of a rate hike. Markets had been wary of a likely rate hike by Japan's central bank strengthening the yen and thereby jeopardizing the yen carry trade that has supported cryptocurrency prices.
The sentiment boost was also reflected in CoinMarketCap's Fear and Greed Index that measures the sentiment in the crypto market. The index rose further in the 'neutral' territory to 55, from 54 a day ago and 47 a week ago.
Amidst the improved market sentiment, overall crypto market capitalization has rallied 4.8 percent in the past 24 hours to $2.53 trillion. Market capitalization of meme category cryptocurrencies has rallied 8.4 percent in the past 24 hours. Market capitalization of the AI& Big Data category has gained only 1.7 percent in the past 24 hours.
The 24-hour trading volume has increased 84 percent to $136 billion. Around 75 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent whereas only 5 are trading with overnight losses of more than a percent.
The 24-hour liquidation statistics from Coinglass shows short positions surpassing long positions by more than 4 times. 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 $546 million comprising long positions of $101 million and short positions of $446 million.
Bitcoin (BTC), the largest cryptocurrency is trading 5.3 percent higher at $74,556.45. The current price is around 41 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has gained more than 8 percent in the past week, restricting year-to-date losses to 14.8 percent.
Bitcoin Spot ETF products in the U.S. witnessed net outflows of $291 million on Monday versus net inflows of $257 million on Friday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped net outflows with $229 million whereas market leader iShares Bitcoin Trust ETF topped net inflows with $35 million.
Bitcoin is continuing in the 12th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. Meta Platforms (META) is ranked 11th whereas Tesla (TSLA) is ranked 13th.
Ethereum (ETH) jumped 9.1 percent overnight as it traded at $2,387.29. The leading alternate coin is trading 52 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 $10 million on Monday versus $65 million on Friday. iShares Staked Ethereum Trust ETF (ETHB) topped inflows with $6 million. iShares Ethereum Trust ETF (ETHA) topped with outflows of $4 million.
Meanwhile, Ethereum has jumped to the 62nd rank in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading alternate coin was ranked 69th a day earlier.
4th ranked XRP (XRP) added 3.5 percent overnight and is currently trading at $1.37, around 64 percent below the all-time high of $3.84 touched on January 4, 2018.
5th ranked BNB (BNB) rallied 3.5 percent overnight resulting in price increasing to $618.15. BNB is trading 55 percent below the all-time high of $1,370.55 touched on October 13, 2025.
The price of 7th ranked Solana (SOL) increased 5.2 percent overnight to $86.22. SOL's current price is around 71 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall slipped 0.27 percent overnight and is currently changing hands at $0.3212. The trading price is 27 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Dogecoin (DOGE) added 3.9 percent overnight and is currently trading at $0.0945. DOGE is trading 87 percent below the peak price of $0.7376 recorded on May 8, 2021.
10th ranked Hyperliquid (HYPE) jumped 8.1 percent in the past 24 hours. HYPE is trading at $44.98, around 24 percent below the all-time high of $59.39 recorded on September 18, 2025.
30th ranked RaveDAO tops overnight gains among the top 100 cryptocurrencies with an overnight surge of 51 percent. The alternate coin touched a high of 10.22 a few hours ago. The RaveDAO claims to be a global community uniting music, technology, and purpose.
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