WASHINGTON (dpa-AFX) - Geopolitical risks to global energy supplies as well as anxiety about AI-related capex remained the dominant theme for global markets amidst an escalating U.S.-Iran conflict and a bruising tech sell-off in Wall Street on Thursday. Brent Crude had closed above $100 on Thursday, and the tech-heavy Nasdaq Composite had suffered an erosion of more than 2 percent on Thursday.
Overall cryptocurrency market capitalization declined more than 1 percent and Bitcoin traded between $65,760 and $64,611 during the past 24 hours while markets worried about the earnings hit from surging AI-spending and the inflation impact from rising crude oil prices.
Though crude oil prices had surged on Thursday, the twin benchmarks are trading lower on Friday, taking cues from the rise in crude oil inventories in the U.S. and a renewed U.S.-Iran diplomatic momentum. Wall Street futures have also rebounded and are currently trading in positive territory.
Cryptocurrency prices also reflected the lingering anxiety about a rate hike by the Federal Reserve. According to the CME FedWatch tool that tracks the expectations of interest rate traders, markets expect a 34 percent likelihood for a quarter percent rate hike by the Fed in the ensuing review on July 29. However, rate hike expectations increase and in the FOMC in September, markets anticipate a 56 percent chance for a quarter percent rate hike and a 23 percent chance for a half percent rate hike.
Outflows from U.S.-listed Bitcoin Spot ETF products also weighed on market sentiment. Bitcoin Spot ETF products in the U.S. witnessed net outflows of $225 million on Thursday in contrast to net inflows of $69 million on Wednesday and $203 million on Tuesday. iShares Bitcoin Trust ETF topped with net outflows of $203 million.
During the past 24 hours, aggregate crypto market capitalization has declined 1.2 percent to $2.21 trillion. Only 7 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent whereas more than 55 are trading with overnight losses of 1 percent or more. The decline in overall crypto market capitalization was however accompanied by a 6-percent spike in trading volumes. The decline in global bond yields and the U.S. Dollar's retreat helped limit losses for the digital assets.
Bitcoin (BTC), the largest cryptocurrency is trading 0.93 percent lower at $65,010.06. The current price is around 48 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency's year-to-date losses stand at 25.7 percent.
Bitcoin is continuing in the 13th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is ranked between Meta Platforms in the 12th position and Tesla in the 14th position.
Ethereum (ETH) is trading 2.3 percent lower at $1,880.89. The leading alternate coin is trading 62 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $1,927.70 and $1,860.66. Ethereum is still grappling with year-to-date losses of close to 37 percent.
Ethereum Spot ETF products in the U.S. witnessed net inflows declining to $26 million on Thursday from $73 million on Wednesday. Fidelity Ethereum Fund (FETH) topped with net inflows of $15 million.
Ethereum is continuing in the 85th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) slipped 0.79 percent overnight resulting in price decreasing to $565.89. BNB is trading 59 percent below the all-time high of $1,370.55 touched on October 13, 2025.
6th ranked XRP (XRP), a payments-focused cryptocurrency lost 2.7 percent overnight and is currently trading at $1.10, around 71 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) decreased 3.1 percent overnight to $75.29. 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 gained 1.3 percent overnight and is currently changing hands at $0.3315. 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) lost 1.7 percent overnight, to trade at $58.44, around 24 percent below the all-time high of $76.85 recorded on June 16.
Memecoin Dogecoin (DOGE) ranked 10th overall also lost 3.9 percent overnight and is currently trading at $0.0696. DOGE is trading 91 percent below the peak price of $0.7376 recorded on May 8, 2021.
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