WASHINGTON (dpa-AFX) - Despite disappointment surrounding the deferment of the Clarity Act's Senate vote to September, cryptocurrencies are trading on a firm note. Crypto markets have also shrugged off anxiety ahead of the release of the monthly jobs data from the U.S. which could significantly influence the Fed's monetary policy actions. Overall crypto market capitalization has increased more than a quarter percent. Bitcoin is currently trading above the $65k level.
Data to be released on Friday morning by the U.S. Bureau of Labor Statistics is expected to show an addition of 80 thousand to non-farm payrolls in the month of July versus 57 thousand in the previous month. The unemployment rate is however expected to remain steady at 4.2 percent.
The gauge of the strength of the labor market is expected to exert significant influence on the Federal Reserve's monetary policy strategy and actions. According to the CME FedWatch tool that tracks the expectations of interest rate traders, currently the likelihood of a rate hike by the Fed is around 55 percent in September, 68 percent in October and 83 percent in December.
Though crypto markets had pinned hopes on the Clarity Act getting a Senate vote in August, reports indicate that the same has been deferred to September. Despite the regulatory uncertainty attributed to the delay in progressing the legislation, cryptocurrencies are trading on a mildly positive note.
With crude oil prices declining mildly amidst expectations of restoration of shipping flows through the Strait of Hormuz, the Dollar Index has edged down. Bond yields are however trading in a mixed fashion. Wall Street Futures are also mildly positive. The CMC Crypto Fear and Greed Index that tracks sentiment in the crypto market has improved to 39 from 38 a day ago and 34 a week earlier.
Overall crypto market capitalization has increased 0.4 percent overnight to $2.2 trillion while market leader Bitcoin traded between $65,155 and $64,098 during the same period. The increase in overall crypto market capitalization was accompanied by a 12-percent dip in trading volumes.
More than 30 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent while more than 15 are trading with overnight losses of more than a percent.
Bitcoin (BTC), the largest cryptocurrency is trading flat 0.79 percent higher at $65,061.34. 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 Spot ETF products in the U.S. witnessed net inflows declining to $138 million on Thursday from $244 million on Wednesday. iShares Bitcoin Trust ETF topped with net inflows of $128 million.
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 now positioned between 12th ranked Meta Platforms and 14th ranked Tesla.
Ethereum (ETH) is trading 0.66 percent higher at $1,917.16. The leading alternate coin is trading 61 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $1,919.38 and $1,890.96. Ethereum's year-to-date losses have fallen to 35.4 percent.
Ethereum Spot ETF products in the U.S. witnessed net inflows rising to $92 million on Thursday from $61 million on Wednesday and $53 million on Tuesday. iShares Ethereum Trust ETF (ETHA) topped with net inflows of $81 million.
The overnight gains helped Ethereum improve 3 notches to the 87th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) dropped 0.45 percent overnight resulting in price decreasing to $590.45. 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 1.3 percent overnight and is currently trading at $1.03, around 73 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) increased 0.27 percent overnight to $73.56. 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 is currently changing flat at $0.3268. 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) added 2.4 percent overnight, to trade at $56.83, around 26 percent below the all-time high of $76.85 recorded on June 16. U.S.-listed Hyperliquid Spot ETF products witnessed net inflows of $3 million on Thursday.
Memecoin Dogecoin (DOGE) ranked 10th overall rallied 0.61 percent overnight and is currently trading at $0.0695. DOGE is trading 91 percent below the peak price of $0.7376 recorded on May 8, 2021.
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