WASHINGTON (dpa-AFX) - Cryptocurrency market capitalization declined mildly in the past 24 hours as markets reacted to the consumer price inflation readings for July from the U.S. that matched market expectations. Positive inflows to U.S.-listed Bitcoin Spot ETF products limited losses. Overall crypto market capitalization has decreased more than a quarter percent in the past 24 hours while Bitcoin has slipped 0.6 percent during the same period. The leading cryptocurrency is currently trading near $63,693.
Data released by the U.S. Bureau of Labor Statistics on Wednesday morning showed headline annual inflation edging down to 3.4 percent from 3.5 percent in June. The core component thereof also edged down to 2.5 percent from 2.6 percent in the previous month. On a month-on-month basis, headline inflation stood at 0.1 percent in July versus -0.4 percent in June. The core component thereof increased to 0.2 percent in July from a flat reading in June.
Producer price inflation data due on Thursday morning is expected to reveal a jump to 0.2 percent from -0.3 percent in June.
Nevertheless, rate hike expectations from the Federal Reserve have decreased as markets digested the CPI readings. The likelihood of a rate hike in the next Fed review in September has fallen to 36 percent from 48 percent a day earlier. Likewise, the probability of a rate hike in October has dropped to 52 percent from 62 percent a day earlier. Markets had a day ago assigned a probability of 79 percent for a Fed rate hike in December. With no negative surprises on the inflation front, markets have toned down the same to 71 percent.
Despite the uncertain geopolitical situation in the Middle East and fears of a prolonged war, both the crude oil price benchmarks are trading with losses of almost half a percent. Bond yields have eased and the greenback has retreated, causing the six-currency Dollar Index to shed around 0.12 percent. The S&P 500 and Nasdaq Composite are trading in positive territory while the Dow jones is hesitant below the flatline.
Liquidation of long positions continues to surpass the liquidation of short positions. The 24-hour liquidation statistics from Coinglass shows crypto liquidations at $210 million comprising long positions of $128 million and short positions of $82 million.
Overall crypto market capitalization has decreased 0.28 percent overnight to $2.19 trillion while market leader Bitcoin traded between $64,381 and $63,185 during the same period. The decrease in overall crypto market capitalization was accompanied by a 6-percent jump in trading volumes.
Bitcoin (BTC), the largest cryptocurrency is trading 0.64 percent lower at $63,692.95. The current price is around 50 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency's year-to-date losses have increased to 27.2 percent.
Bitcoin Spot ETF products in the U.S. witnessed net inflows of $8 million on Tuesday versus net outflows of $145 million on Monday. iShares Bitcoin Trust ETF topped with net inflows of $50 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 positioned between 13th ranked Tesla and 15th ranked Samsung.
Ethereum (ETH) is trading 0.37 percent higher at $1,893.25. 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 $1,921.78 and $1,852.84. Ethereum's year-to-date losses have decreased to 36.2 percent.
Ethereum Spot ETF products in the U.S. witnessed net outflows declining to $2 million on Tuesday from $15 million on Monday.
Ethereum has improved one notch to the 91st position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) rallied 0.35 percent overnight resulting in price increasing to $612.68. BNB is trading 55 percent below the all-time high of $1,370.55 touched on October 13, 2025.
6th ranked XRP (XRP), a payments-focused cryptocurrency added 0.34 percent overnight and is currently trading at $1.01, around 74 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) decreased 0.06 percent overnight to $75.90. 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 is currently trading 0.07 percent higher at $0.3358. The trading price is 24 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Hyperliquid (HYPE) rallied 2.2 percent overnight, to trade at $55.64, around 28 percent below the all-time high of $76.85 recorded on June 16.
Memecoin Dogecoin (DOGE) ranked 10th overall dropped 0.96 percent overnight and is currently trading at $0.0705. DOGE is trading 90 percent below the peak price of $0.7376 recorded on May 8, 2021.
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