WASHINGTON (dpa-AFX) - Cryptocurrencies are trading below the flatline while global markets remain impacted by fresh AI-related worries as well as renewed hopes of a shipping deal for the Strait of Hormuz. Overall crypto market capitalization has edged down from the previous day's close while Bitcoin retreated after almost touching the $65k level.
Crypto market capitalization falling below the flatline comes amidst a muted move in Wall Street. Dow Jones is trading in the red while S&P 500 and Nasdaq Composite have rallied mildly. Earlier in the day, South Korea's KOSPI plunged 4.6 percent amidst Samsung shedding 6.3 percent and SK Hynix erasing 10.4 percent.
Amidst the wait for resumption of commercial shipping through the Strait of Hormuz, both the crude oil benchmarks have gained more than a percent. The surge forced bond yields to spike and rate hike expectations to climb. The U.S. Dollar's strength also limited the upside for cryptocurrencies.
According to the CME FedWatch tool that tracks the expectations of interest rate traders, the likelihood of a rate hike in September has increased to 56.7 percent. It was 54.4 percent a day earlier.
Liquidation of short positions continued to eclipse long positions. The 24-hour liquidation statistics from Coinglass shows 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 at $241 million comprising long positions of $106 million and short positions of $135 million.
Market spotlight is also on the potential trajectory of the Clarity Act, an important piece of legislation that could shape the regulatory environment for cryptocurrencies in the U.S. Dispute over an ethics clause has been halting the bill's legislative progress. Once approved, the CLARITY Act is expected to codify cryptocurrency regulation in the U.S., encompassing market clarity, ethics clauses, and support for innovation.
The CMC Crypto Fear and Greed Index that tracks sentiment in the crypto market shows a steady reading of 39 versus 39 a day ago and 38 a week earlier.
Overall crypto market capitalization has decreased 0.2 percent overnight to $2.2 trillion while market leader Bitcoin traded between $64,954 and $64,098 during the same period. The decrease in overall crypto market capitalization was accompanied by a 2-percent dip in trading volumes.
Bitcoin (BTC), the largest cryptocurrency is trading flat at $64,360.69. 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 26.5 percent.
Bitcoin Spot ETF products in the U.S. witnessed net inflows rising to $244 million on Wednesday from $212 million on Tuesday and $170 million a day earlier. iShares Bitcoin Trust ETF topped with net inflows of $197 million.
Bitcoin has regained the 13th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is now positioned between 12th ranked SpaceX and 14th ranked Tesla.
Ethereum (ETH) is trading 1.8 percent higher at $1,904.74. 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 $1,922.64 and $1,868.14. Ethereum's year-to-date losses have fallen to 35.8 percent.
Ethereum Spot ETF products in the U.S. witnessed net inflows rising to $61 million on Wednesday from $53 million on Tuesday. iShares Ethereum Trust ETF (ETHA) topped with net inflows of $50 million.
Ethereum improved 2 notches to the 90th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) dropped 1.1 percent overnight resulting in price decreasing to $592.05. BNB is trading 57 percent below the all-time high of $1,370.55 touched on October 13, 2025.
6th ranked XRP (XRP), a payments-focused cryptocurrency slipped 1.7 percent overnight and is currently trading at $1.04, around 73 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) decreased 0.8 percent overnight to $73.17. 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 0.14 percent overnight and is currently changing hands at $0.3275. 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) erased 2.4 percent overnight, to trade at $55.83, around 27 percent below the all-time high of $76.85 recorded on June 16.
Memecoin Dogecoin (DOGE) ranked 10th overall slipped 1.4 percent overnight and is currently trading at $0.0688. DOGE is trading 91 percent below the peak price of $0.7376 recorded on May 8, 2021.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
