WASHINGTON (dpa-AFX) - Amidst renewed geopolitical tensions in the Middle East and a surge in crude oil prices, bond yields and the U.S. dollar that followed, cryptocurrencies have slipped into negative territory. Overall cryptocurrency market capitalization has declined 1.4 percent overnight to $2.86 trillion while Bitcoin is trading with overnight losses of 1.6 percent.
Tensions escalated in the Middle East amidst President Donald Trump rejecting an Iranian peace proposal to reopen the Strait of Hormuz. Both the crude oil benchmarks recorded sharp increases before easing slightly amidst fresh hopes of a diplomatic resolution.
The dollar's strengthening also dampened crypto market sentiment. The six-currency Dollar Index which measures the U.S. Dollar's strength against a basket of 6 currencies is currently trading at 101.20, implying an overnight surge of 0.23 percent.
Worries about fuel-led inflation lifted bond yields higher across regions and tenors. Ten-year U.S. bond yields rose to levels last seen in 2007. Simultaneously, the likelihood of a quarter percentage rate hike by the Fed in October has increased to 65.9 percent from 64.2 percent a day earlier. Sentiment in crypto markets remained impacted as the spike in yields increased the opportunity cost of holding cryptocurrencies which do not yield interest income.
Bitcoin (BTC), the largest cryptocurrency is currently trading 1.6 percent lower on an overnight basis at $83,367.14, around 34 percent below the all-time high of $126,198. The leading cryptocurrency has lost 2.1 percent in the past week and 4.7 percent on a year-to-date basis. The 24-hour trading ranged between $85,126.11 and $82,570.72.
Bitcoin Spot ETF products in the U.S. witnessed net inflows declining to $135 million on Friday from $191 million on Thursday and $347 million on Wednesday. iShares Bitcoin Trust ETF (IBIT) topped with net inflows of $97 million. Fidelity Wise Origin Bitcoin Fund (FBTC) followed with net inflows of $49 million.
Bitcoin is currently ranked in the 12th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is positioned between 11th ranked Broadcom and 13th ranked Saudi Aramco.
Ethereum (ETH) is trading 0.74 percent lower at $2,682.73, around 46 percent below the all-time high of $4,953. The leading alternate coin has lost 1.9 percent in the past week and 9.6 percent on a year-to-date basis. The 24-hour trading ranged between $2,714.47 and $2,635.48.
Ethereum Spot ETF products in the U.S. also witnessed net inflows increasing to $87 million on Friday from $66 million on Thursday. iShares Ethereum Trust ETF (ETHA) topped with net inflows of $50 million.
Ethereum is currently ranked in the 59th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) shed 1.6 percent overnight resulting in price decreasing to $765.33.
5th ranked XRP (XRP), a payments-focused cryptocurrency slipped 0.45 percent overnight and is currently trading at $1.51.
The price of 7th ranked Solana (SOL) decreased 2.5 percent overnight to $119.53, around 59 percent below the all-time high of $294.33.
U.S.-listed Solana Spot ETF products witnessed net inflows increasing to a record $87 million on Friday from $33 million on Thursday and $14 million on Wednesday. Bitwise Solana Staking ETF (BSOL) topped with net inflows of $56 million.
TRON (TRX) ranked 8th overall is currently trading 0.27 percent higher at $0.3346.
9th ranked Zcash (ZEC) plunged 3.4 percent overnight and the cryptocurrency is currently trading at $1,591.78, around 73 percent below the all-time high of $5,941.80.
10th ranked Hyperliquid (HYPE) slipped 2.8 percent on an overnight basis to $89.66, around 8 percent below the all-time high of $97.98. U.S.-listed Hyperliquid Spot ETF products witnessed net inflows declining to $3 million on Friday from $5 million on Thursday.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
