WASHINGTON (dpa-AFX) - Risk aversion triggered by flare-up in the Middle East as well as the spike in crude oil prices that has followed, dragged down crypto market sentiment. Lingering anxiety ahead of Federal Reserve Chair Kevin Warsh's two-day testimony before Congress starting on Tuesday as well as the release of the U.S. inflation readings for June on Tuesday also exacerbated the bearish sentiment in cryptocurrency markets.
Overall crypto market capitalization decreased more than 2 percent during the past 24 hours while Bitcoin touched a low of $62,065 during the period.
The drop in cryptocurrency markets come amidst a weak sentiment in the Wall Street indexes. While sovereign bond yields have hardened across regions, crude oil prices are trading almost 5 percent above the flatline. The Dollar Index has firmed up around the flatline while gold prices have retreated more than 2 percent.
Crypto market sentiment, as measured by the CMC Crypto Fear and Greed Index which was at 31 (fear) a day ago decreased to 28 (fear) in tandem with the escalation in geopolitical tensions in the Middle East. The index remains below the level of 29 (fear) a week ago.
Data from Coinglass shows a liquidation cascade, as liquidations aggregate to $313 million during the past 24 hours. While long positions account for $252 million, short positions add up to $60 million only.
Aggregate crypto market capitalization has shed 2.2 percent in the past 24 hours to $2.15 trillion. The decline in overall crypto market capitalization was accompanied by a 14-percent spike in trading volumes.
Only 10 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent whereas around 60 are trading with overnight losses of 1 percent or more, implying a broad-based decline.
Bitcoin (BTC), the largest cryptocurrency is trading 2.4 percent lower at $62,514.73. 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 more than 28 percent on a year-to-date basis.
Bitcoin Spot ETF products in the U.S. witnessed net inflows of $90 million on Friday versus net outflows of $95 million on Thursday. iShares Bitcoin Trust ETF topped with net inflows of $87 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 1.8 percent lower at $1,774.77. The leading alternate coin is trading 64 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $1,842.46 and $1,762.06. Ethereum is still grappling with year-to-date losses of more than 40 percent.
Ethereum Spot ETF products in the U.S. witnessed net inflows of $18 million on Friday versus net outflows of $52 million on Thursday. iShares Ethereum Trust ETF (ETHA) topped with net inflows of $16 million.
Ethereum has slipped to the 97th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) lost 2 percent overnight resulting in price decreasing to $568.93. 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 slipped 2.2 percent overnight and is currently trading at $1.07, around 72 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) lost 1.6 percent overnight to $75.88. 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 slipped 1.5 percent overnight and is currently changing hands at $0.3258. The trading price is 26 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Hyperliquid (HYPE) plunged 4.4 percent overnight, to trade at $64.11, around 17 percent below the all-time high of $76.85 recorded on June 16. U.S.-listed Hyperliquid Spot ETF products witnessed net outflows of $6 million on Friday.
Memecoin Dogecoin (DOGE) ranked 10th overall lost 1.4 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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