WASHINGTON (dpa-AFX) - Cryptocurrencies rallied in the past 24 hours despite an escalation in the hostilities between the U.S. and Iran as well as growing hints of an FOMC wary about inflationary pressures. Bitcoin traded between $63,165 and $61,493 during the past 24 hours whereas overall crypto market capitalization has increased a little less than a percent.
Minutes of the June FOMC released on Wednesday afternoon revealed growing concerns about the inflationary situation in the U.S. Nevertheless, cryptocurrencies have rebounded in the past 24 hours.
Participants generally noted that inflation had increased further and remained well above the Committee's 2 percent longer-run objective. They observed that both core and total inflation had moved higher. Participants generally attributed this to the lingering effects of tariffs, Hormuz related supply chain disruptions as well as strength in demand for some goods and services stemming from AI-related investments. Several participants commented that price pressures had become more broad-based.
Markets also digested data showing net outflows from U.S.-listed Bitcoin Spot ETF products after three consecutive days of net inflows. The price movements in the cryptocurrency market coincided with a mixed pattern in movement of sovereign bond yields, the resilience of the Dollar Index, a minor uptick in crude oil prices, a resurgence in the prices of gold as well as a rebound in global stock markets.
Crypto market sentiment, as measured by the CMC Crypto Fear and Greed Index which was at 26 (fear) a day ago edged up to 27(fear) implying a geopolitical shock. The index however remains above the level of 21 a week ago that also implied a mood of fear in the market.
Liquidation statistics from Coinglass show aggregate level of $176 million during the past 24 hours comprising long positions of $83 million and short positions of $93 million. Aggregate crypto market capitalization has gained 0.82 percent in the past 24 hours to $2.16 trillion. The decline in overall crypto market capitalization was accompanied by an 18-percent dip in trading volumes.
Close to 50 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent whereas only around 10 are trading with overnight losses of 1 percent or more.
Bitcoin (BTC), the largest cryptocurrency is trading 1 percent higher at $62,663.53. The current price is around 50 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency is still saddled with losses of close to 28 percent on a year-to-date basis.
Bitcoin Spot ETF products in the U.S. witnessed net outflows of $85 million on Wednesday as compared with net inflows of $22 million on Tuesday. Grayscale Bitcoin Trust ETF (GBTC) topped with net outflows of $64 million followed by iShares Bitcoin Trust (IBIT) that recorded net outflows of $59 million.
Bitcoin is continuing in the 14th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is juxtaposed between Tesla ranked 13th and Samsung ranked 15th.
Ethereum (ETH) is trading 0.34 percent higher at $1,741.94. The leading alternate coin is trading 65 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $1,760.21 and $1,711.90. Ethereum is still grappling with year-to-date losses of more than 41 percent.
Ethereum Spot ETF products in the U.S. witnessed net inflows rising to $71 million on Wednesday from $27 million on Tuesday. Fidelity Ethereum Fund (FETH) accounted for bulk of the inflows.
Ethereum has improved one notch to the 95th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Bitcoin's crypto market dominance has increased to 58.23 from 57.92 percent a day earlier. The market share of Ethereum, the leading alternate coin has dropped to 9.74 percent from 9.79 percent of the overall crypto market a day earlier. Tether, the leading stablecoin witnessed market share dropping to 8.54 percent from 8.61 percent a day ago.
4th ranked BNB (BNB) added 1.2 percent overnight resulting in price increasing to $568.99. BNB is trading 58 percent below the all-time high of $1,370.55 touched on October 13, 2025.
6th ranked XRP (XRP), a payments-focused cryptocurrency rallied 0.96 percent overnight and is currently trading at $1.09, around 72 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) gained 0.46 percent overnight to $77.42. SOL's current price is around 74 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall rallied 1 percent overnight and is currently changing hands at $0.3306. The trading price is 25 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Hyperliquid (HYPE) slipped 1.2 percent overnight, to trade at $67.21, around 13 percent below the all-time high of $76.85 recorded on June 16.
Memecoin Dogecoin (DOGE) ranked 10th overall added almost a percent overnight and is currently trading at $0.0723. DOGE is trading 90 percent below the peak price of $0.7376 recorded on May 8, 2021.
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