WASHINGTON (dpa-AFX) - Cryptocurrencies declined close to 2 percent in the past 24 hours as geopolitical tensions in the Middle East as well as disruptions in the Strait of Hormuz weighed on overall market sentiment. Bitcoin dropped to $77,222 from its 24-hour high of $79,468 whereas Ethereum dropped to $2,308 from the high of $2,423 recorded during the same period.
The delay in progressing the U.S. Clarity Act and reports of banking groups campaigning against the same, citing the provisions related to yield on stablecoins also weighed on sentiment. Markets also digested the latest quarterly results from Tesla, Inc. (TSLA) which showed a loss of $222 million on its digital assets portfolio.
The 24-hour statistics from Coinglass shows liquidation of long positions far exceeding liquidations of short positions. 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 $246 million, comprising long positions of $151 million and short positions of $96 million.
The dip in the crypto market sentiment reflected in CoinMarketCap's Fear and Greed Index also, as it dropped to 58, reverting to the 'neutral' territory. The index was at 61 a day ago, denoting 'greed' and 56 a week ago implying 'neutral' sentiment.
Amidst the negative market sentiment, overall crypto market capitalization has lost 1.97 percent in the past 24 hours to $2.59 trillion. The 24-hour trading volume has also decreased 6.8 percent to $143 billion. Around 8 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent whereas 64 are trading with overnight losses of more than a percent.
Bitcoin (BTC), the largest cryptocurrency is trading 1.7 percent lower at $77,529.56. The current price is around 39 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has gained 5.3 percent in the past week, lifting year-to-date losses to 11.4 percent.
Bitcoin Spot ETF products in the U.S. witnessed net inflows jumping to $336 million on Wednesday from $12 million on Tuesday. Market leader iShares Bitcoin Trust ETF topped with net inflows of $247 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) plunged 3.8 percent overnight as it traded at $2,321.38. 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 $96 million on Wednesday versus $43 million on Tuesday. iShares Ethereum Trust ETF (ETHA) topped with inflows of $54 million.
Meanwhile, Ethereum has slipped three notches to the 64th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Bitcoin's crypto market dominance increased to 60.1 percent from 59.94 percent a day earlier. At the same time, Ethereum's share of the of the crypto market has dropped to 10.8 percent from 11.1 percent earlier.
4th ranked XRP (XRP) dropped 2.8 percent overnight and is currently trading at $1.41, around 63 percent below the all-time high of $3.84 touched on January 4, 2018.
5th ranked BNB (BNB) erased 2.3 percent overnight resulting in price decreasing to $636.23. BNB is trading 54 percent below the all-time high of $1,370.55 touched on October 13, 2025.
The price of 7th ranked Solana (SOL) slipped 3.8 percent overnight to $85.70. 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 lost almost half percent overnight and is currently changing hands at $0.3280. The trading price is 26 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Dogecoin (DOGE) shed 1.65 percent overnight and is currently trading at $0.0964. DOGE is trading 87 percent below the peak price of $0.7376 recorded on May 8, 2021.
10th ranked Hyperliquid (HYPE) edged down 0.14 percent in the past 24 hours. HYPE is trading at $41.30, around 30 percent below the all-time high of $59.39 recorded on September 18, 2025.
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