WASHINGTON (dpa-AFX) - The surge in equity markets propelled by strong corporate earnings, the plunge in crude oil prices and renewed expectations about a Hormuz deal manifested in cryptocurrency markets as well, albeit on a muted scale. Aggregate crypto market capitalization has increased around 0.4 percent in the past 24 hours. In contrast, Wall Street's tech-heavy Nasdaq Composite surged 2.6 percent on Tuesday.
In Wednesday's trading, South Korea's KOSPI has surged 3.8 percent and Japan's Nikkei 225 has jumped 3.6 percent. Wall Street futures are currently trading around half a percent higher.
While a short squeeze in crypto liquidations, an increase in ETF inflows and a mild dip in rate hike expectations supported crypto market sentiment, the regulatory narrative as well as safety concerns limited the excitement.
The 24-hour liquidation statistics from Coinglass shows short position liquidations surpassing long position liquidations. 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 $206 million comprising long positions of $70 million and short positions of $136 million.
Bitcoin Spot ETF products in the U.S. witnessed net inflows rising to $212 million on Tuesday from $170 million a day earlier. iShares Bitcoin Trust ETF topped with net inflows of $170 million. Ethereum Spot ETF products in the U.S. witnessed net inflows of $53 million on Tuesday versus net outflows of $12 million on Monday. iShares Ethereum Trust ETF (ETHA) topped with net inflows of $43 million.
Meanwhile, according to the CME FedWatch tool that tracks the expectations of interest rate traders, the likelihood of a rate hike in September has fallen to 56.7 percent. It was 58.4 percent a day earlier. The dip has soothed markets' anxiety about an immediate hike in interest rates by the Federal Reserve.
Uncertainty surrounding the fate of the Digital Asset Market Clarity Act continued to weigh on crypto market sentiment. The bill has been delayed amidst a debate on ethical concerns about digital asset-related dealings of government officials.
Amidst the recent Bitcoin Coldcard exploit spanning around 15 attackers and losses of potentially more than $100 million, sentiment remained impacted. The potential sell pressure from the stolen Bitcoins that have been moved to exchanges also weakened sentiment.
The CMC Crypto Fear and Greed Index that tracks sentiment in the crypto market shows a reading of 38 versus 37 a day earlier.
Amidst the developments, Bitcoin has slipped one notch to the 14th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is now positioned between 13th ranked Tesla and 15th ranked Samsung.
Overall crypto market capitalization has increased 0.8 percent overnight to $2.19 trillion while market leader Bitcoin traded between $64,467 and $63,558 during the same period. The increase in overall crypto market capitalization was accompanied by a 1-percent dip in trading volumes.
Bitcoin (BTC), the largest cryptocurrency is trading 0.51 percent higher at $64,035.82. The current price is around 49 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 close to 27 percent.
Ethereum (ETH) is trading 0.13 percent higher at $1,868.62. 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 $1,879.54 and $1,857.57. Ethereum's year-to-date losses amount to 37 percent.
Ethereum has slipped 3 notches to the 92nd position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) rallied 1.3 percent overnight resulting in price increasing to $597.35. BNB is trading 56 percent below the all-time high of $1,370.55 touched on October 13, 2025.
6th ranked XRP (XRP), a payments-focused cryptocurrency however slipped 1.1 percent overnight and is currently trading at $1.06, around 72 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) rose 0.54 percent overnight to $73.91. SOL's current price is around 75 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall edged down 0.02 percent overnight and is currently changing hands at $0.3287. 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) rallied 3.6 percent overnight, to trade at $57.26, around 28 percent below the all-time high of $76.85 recorded on June 16.
Memecoin Dogecoin (DOGE) ranked 10th overall slipped 0.82 percent overnight and is currently trading at $0.0698. DOGE is trading 91 percent below the peak price of $0.7376 recorded on May 8, 2021.
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