WASHINGTON (dpa-AFX) - Cryptocurrencies gained in the past 24 hours as markets reconciled to the prospect of a hawkish Fed and a resilient U.S. economy. Hopes of crypto-friendly regulation and more positive initiatives from the new U.S. administration limited losses.
An easing in bond yields and the Dollar's retreat from a more than 2-year high of 109.53 touched on Thursday also supported sentiment.
The Dollar had rallied on Thursday amidst initial jobless claims for the week ended December 28 dropping to 211 thousand, marking the lowest level of initial claims in eight months. Markets had expected it to increase to 222 thousand from 219 thousand in the previous week. The unexpected decline reinforced the resilience of the U.S. economy and portended a hawkish stance by the Federal Reserve. The six-currency Dollar Index is currently at 109.03.
Ten-year bond yields in the U.S. recorded a decline of 0.66 percent. Yields in the very long term and very short-term tenors also recorded a decline. 30-year bond yields eased0.81 percent whereas 5-year bonds dropped 0.59 percent.
Overall crypto market capitalization is currently at $3.42 trillion registering an overnight gain of 0.47 percent.
Bitcoin gained 0.32 percent overnight to trade at $96,814.45, around 11 percent below the all-time high. BTC has added 0.72 percent in the past week. The leading cryptocurrency traded between $97,739.82 and $95,982.19 in the past 24 hours.
Bitcoin Spot ETF products in the U.S. recorded outflows of $248 million on Thursday as compared with inflows of $5 million on Tuesday. iShares Bitcoin Trust (IBIT) topped with highest ever outflows of $333 million. GBTC also recorded outflows of $23 million. Bitwise Bitcoin ETF (BITB) recorded inflows of $48 million followed by Fidelity Wise Origin Bitcoin Fund (FBTC) that recorded inflows of $36 million.
Ethereum rallied 0.9 percent in the past 24 hours to trade at $3,495.99, around 29 percent below the previous peak recorded in November 2021. Weekly gains are more than 3.5 percent. Ether traded between $3,494.04 and $3,421.83 in the past 24 hours.
Ether Spot ETF products in the U.S. recorded outflows of $78 million as compared with inflows of $36 million on Tuesday. The outflows are attributed to Bitwise Ethereum ETF (ETHW) that witnessed outflows of $57 million and Grayscale Ethereum Trust ETF (ETHE) that saw outflows of $21 million.
3rd ranked XRP (XRP) added 1.2 percent overnight to trade at $2.42, around 37 percent below the all-time high touched in January 2018. The cryptocurrency's weekly gains are close to 11 percent.
The price of 5th ranked Solana (SOL) increased 3.5 percent overnight. With weekly gains of 13.2 percent, SOL is currently trading at $213.63, around 19 percent below its record high on November 23, 2024.
6th ranked BNB (BNB) edged down 0.3 percent overnight. Nevertheless, BNB has gained 0.67 percent in the past week at its current trading price of $705.92. BNB is currently trading 11 percent below the all-time high touched on December 4, 2024.
7th ranked Dogecoin (DOGE) jumped 6.8 percent overnight to trade at $0.36. Having leaped 13.7 percent in the past week, DOGE is trading 51 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) rallied 13.2 percent overnight to trade at $1.08. ADA is currently trading 65 percent below the record high touched in September 2021.
10th ranked TRON (TRX) edged up 0.75 percent overnight to trade at $ 0.2645. TRX has added 0.7 percent in the past week. The trading price is 40 percent below the cryptocurrency's all-time high recorded on December 4, 2024.
93rd ranked SPX6900 (SPX) topped overnight gains with a surge of 33.9 percent. 9th ranked Cardano (ADA) followed with gains of 13.2 percent. 28th ranked Internet Computer (ICP) and 80th ranked EOS (EOS) also added more than 10 percent in the past 24 hours.
59th ranked Pudgy Penguins (PENGU) topped overnight losses with a decline of 9.4 percent. 34th ranked Virtuals Protocol (VIRTUAL) and 94th ranked FTX Token (FTT) followed with losses of more than 8.6 percent.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
