WASHINGTON (dpa-AFX) - Crypto market sentiment remains negative with majority of the top-ranked cryptocurrencies trading with losses.
Overall crypto market capitalization slipped to a low of $3.31 trillion while Bitcoin touched a low of $95,138 and Ether touched a low of $3,335 in the past 24 hours.
Overall crypto market capitalization has recorded an overnight decline of more than 4 percent. Only six of the top 100 cryptocurrencies are trading with gains in excess of a percent on an overnight basis. Close to 70 of the top 100 cryptocurrencies have shed more than 5 percent in the past 24 hours.
On a weekly basis too, only 13 of the top 100 cryptocurrencies are trading with gains in excess of a percent.
Bitcoin has slipped 2.8 percent overnight to trade at $95,599.06, around 12 percent below the all-time high of $108,268.45 recorded on December 17. BTC has shed 6.3 percent in the past week but is holding on to gains of 4 percent over the past 30 days and more than 126 percent till date in 2024.
Outflows from Bitcoin Spot ETF products continued unabated dampening market sentiment for Bitcoin. Outflows were $338 million on Tuesday, $227 million on Monday and $277 million on Friday. iShares Bitcoin Trust (IBIT) witnessed record outflows of $189 million on Tuesday. Fidelity Wise Origin Bitcoin Fund (FBTC) recorded outflows of $83 million followed by Ark 21Shares Bitcoin ETF (ARKB) that saw outflows of $75 million.
Ethereum lost 3.7 percent in the past 24 hours to trade at $3,351.26, around 31 percent below the previous peak recorded in November 2021. Weekly losses are at 9.1 percent whereas gains in 2024 are a little more than 46 percent.
Ether Spot ETF products in the U.S. recorded inflows of $54 million on Tuesday and $131 million on Monday. On Friday, there were outflows of close to $75 million.
4th ranked XRP (XRP) declined 4.9 percent overnight. The cryptocurrency is currently trading at $2.17, around 44 percent below the all-time high recorded in January 2018.
5th ranked BNB (BNB) recorded an overnight decline of 2.5 percent. At its current trading price of $692.13, BNB is trading 13 percent below the all-time high recorded around 22 days ago.
6th ranked Solana (SOL) dropped 4.1 percent overnight, dragging weekly losses to 9.4 percent. SOL is currently trading at $188.83, around 29 percent below its record high touched in November 2024.
7th ranked Dogecoin (DOGE) slipped 4.7 percent overnight and 13.4 percent in the past week to trade at $0.3159. DOGE is trading 57 percent below the all-time high touched in May 2021.
9th ranked Cardano (ADA) lost 4.9 percent overnight to trade at $0.8688. ADA is currently trading 72 percent below the record high touched in September 2021.
10th ranked TRON (TRX) also declined close to 2 percent overnight to trade at $0.2515. TROX has slipped 4.8 percent in the past week. The trading price is 43 percent below the cryptocurrency's all-time high touched 23 days ago.
19th ranked Bitget Token (BGB) topped overnight gains with a surge of 24.2 percent. 72nd ranked GateToken (GT) also gained 10.6 percent overnight.
85th ranked Curve DAO Token (CRV) and 46th ranked Virtuals Protocol (VIRTUAL) topped overnight losses with a decline of more than 10 percent.
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