WASHINGTON (dpa-AFX) - Aggregate market capitalization of cryptocurrencies declined around a percent in the past 24 hours as markets reacted to the whipsawing crude oil prices and the hardening in bond yields. Increase in outflows from U.S.-listed Bitcoin Spot ETF products that signaled weak institutional demand as well as the ongoing friction in the Middle East and Strait of Hormuz added to the negative sentiment. Bitcoin is currently trading near $62,689, with overnight losses of more than a percent.
Brent oil futures for October settlement are currently trading 0.38 percent lower at $86.74, after ranging between $88.68 and $86.02. The benchmark had closed at $87.07 a day earlier. WTI crude oil futures for September settlement are currently trading 0.48 percent lower at $80.86. The benchmark, which had closed at $81.25 a day earlier ranged between $82.99 and $80.77.
Bitcoin Spot ETF products in the U.S. witnessed net outflows increasing to $131 million on Thursday from $61 million on Wednesday. ARK 21Shares Bitcoin ETF (ARKB) topped with net outflows of $59 million followed by Fidelity Wise Origin Bitcoin Fund (FBTC) that recorded net outflows of $55 million.
Ten-year bond yields in the U.S. have increased 0.34 percent while Germany and France have recorded a jump of more than a percent in ten-year yields. Nevertheless, the six-currency Dollar Index has declined more than a quarter percent amidst an unexpected decline in retail sales in the U.S.
The 24-hour liquidation statistics from Coinglass shows crypto liquidations increasing to $253 million from $146 million a day earlier. Liquidation of long positions jumped to $136 million from $81 million while liquidation of short positions surged to $118 million from $65 million on the previous day. Liquidation of long positions continues to surpass the liquidation of short positions.
The broad-based weakness in cryptocurrencies comes amidst markets modestly increasing expectations of a pause by the Federal Reserve. According to the CME FedWatch tool, expectations of a pause by the Federal Reserve in September has increased to 69 percent from 66 percent a day earlier. Likewise, the probability of a status quo in October has increased to 56 percent from 52 percent a day earlier. Expectations of a pause by the Federal Reserve in December has also marginally increased to 37 percent from 34 percent in December.
Overall crypto market capitalization has decreased 1.01 percent overnight to $2.16 trillion while market leader Bitcoin traded between $63,922 and $62,639 during the same period. The decrease in overall crypto market capitalization was however accompanied by a 2-percent increase in trading volumes.
Bitcoin (BTC), the largest cryptocurrency is trading 1.3 percent lower at $62,689.24. 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 stand at 29.4 percent.
Bitcoin has slipped one notch to the 15th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is now positioned between 14th ranked Samsung and 16th ranked Berkshire Hathaway.
Ethereum (ETH) is trading 0.65 percent lower at $1,873.05. 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 $1,895.00 and $1,861.92. Ethereum's year-to-date losses have increased to 37.6 percent.
Ethereum Spot ETF products in the U.S. witnessed net inflows of $6 million on Thursday versus $7 million on Wednesday.
Ethereum has slipped two notches to the 93rd position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) slipped 0.66 percent overnight resulting in price decreasing to $604.68. 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 lost 0.54 percent overnight and is currently trading at $0.99, around 74 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) decreased 0.65 percent overnight to $75.40. 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 0.31 percent lower at $0.3329. 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) slipped 2.5 percent overnight, to trade at $56.09, around 27 percent below the all-time high of $76.85 recorded on June 16.
Memecoin Dogecoin (DOGE) ranked 10th overall dropped 1.1 percent overnight and is currently trading at $0.0694. DOGE is trading 91 percent below the peak price of $0.7376 recorded on May 8, 2021.
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