WASHINGTON (dpa-AFX) - A renewed positive outlook on the global AI trade triggered by the strong earnings forecast and indications of robust AI demand from majors like SpaceX and Super Micro Computers bolstered sentiments in tech sector, lifting cryptocurrency markets alongside. A mild short squeeze in the cryptocurrency market also supported the uptick in prices. Amidst the revival in market sentiment, overall crypto market capitalization has surged more than two and a half percent whereas Bitcoin touched a high of $83,593 in the past 24 hours.
South Korea's KOSPI index has jumped 3.3 percent whereas Japan's Nikkei 225 rallied almost a percent. Markets in the meanwhile are awaiting results from tech majors including Meta Platforms and Tesla on Wednesday, that has however added an element of caution.
The dollar's resilience failed to suppress the positive sentiment towards cryptocurrencies triggered by the rebound in technology and artificial intelligence stocks. The six-currency Dollar Index is currently at 101.75 versus 101.70 at the close a day earlier. Crypto markets have also shrugged off the spike in crude oil prices on Wednesday attributed to the simmering tensions in the Middle East.
The rebound in market sentiment reflected in the CMC Crypto Fear and Greed Index also. The index that tracks the crypto market sentiment has increased further in the neutral territory, to 53 from 51 a day earlier and 50 a week earlier.
Interest expectations from the Federal Reserve also remain in focus ahead of the Fed's interest rate decision due next week. The CME FedWatch tool that tracks the expectations of interest rate traders currently shows the likelihood of another quarter-percent rate hike in October at 14.9 percent versus 15.5 percent a day earlier and 33.2 percent a week earlier.
Aggregate liquidations during the 24-hour period amounts to $283 million. Liquidation of short positions amounted to $208 million that far exceeded the liquidation of long positions which amounted to $76 million only. Amidst a mild short squeeze, overall cryptocurrency market capitalization has surged 2.5 percent to $2.79 trillion. The rally is accompanied by a 13.5 percent jump in trading volumes.
Among the top 100 cryptocurrencies, 76 are trading with overnight gains of more than a percent whereas 4 are trading with overnight losses of more than a percent.
9th ranked Zcash (ZEC) tops overnight gains with a surge of more than 12 percent. The decentralized cryptocurrency focused on privacy and anonymity significantly outperformed a broader market bounce, primarily driven by the confirmation of its NU7 network upgrade schedule.
58th ranked Morpho (MORPHO) tops overnight losses with a decline of 3.7 percent. Bitcoin (BTC), the largest cryptocurrency is currently trading 2.5 percent higher on an overnight basis at $83,361.74. Bitcoin is saddled with losses of 1.5 percent in the past 30 days, and 4.7 percent in the year-to-date period.
Bitcoin Spot ETF products in the U.S. witnessed net inflows declining to $23 million on Tuesday from $527 million on Monday. Market leader iShares Bitcoin Trust ETF (IBIT) topped with inflows of $30 million.
Bitcoin is currently in the 11th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is positioned between 10th ranked Meta Platforms and 12th ranked Saudi Aramco.
Ethereum (ETH) has jumped 3.2 percent overnight to $2,454.87. The leading alternate coin has however lost 1.7 percent in the past week.
Ethereum Spot ETF products in the U.S. witnessed net outflows decreasing to $26 million on Tuesday from $103 million on Monday. iShares Ethereum Trust ETF (ETHA) topped with net outflows of $33 million.
Ethereum is currently ranked 61st in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) rallied 2.9 percent overnight resulting in price increasing to $747.52.
5th ranked XRP (XRP), a payments-focused cryptocurrency jumped 5.1 percent overnight and is currently trading at $1.35.
The price of 7th ranked Solana (SOL) rallied 2.7 percent overnight to $106.61. U.S.-listed Solana Spot ETF products witnessed net outflows decreasing to $3 million on Tuesday from $7 million on Monday. Grayscale Solana Staking ETF (GSOL) accounted for the flows entirely.
TRON (TRX) ranked 8th overall is currently trading 0.42 percent lower at $0.3304.
9th ranked Zcash (ZEC) jumped 12.3 percent overnight and the cryptocurrency is currently trading at $1,267.41. U.S.-listed Zcash Spot ETF products witnessed net inflows of $2 million on Tuesday versus net outflows of $10 million on Monday.
10th ranked Hyperliquid (HYPE) added 3.7 percent on an overnight basis to $81.12. U.S.-listed Hyperliquid Spot ETF products witnessed net outflows of $7 million on Tuesday versus nil flows on both Monday and Friday.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
