WASHINGTON (dpa-AFX) - Bullish sentiment returned to crypto markets lifting Bitcoin close to the $100,000 level again. The dollar's retreat and the massive inflows to Bitcoin Spot ETF products in the U.S. on Friday also bolstered market sentiment.
The six-currency Dollar Index which had rallied to a more than 2-year high of 109.53 last week has now declined all the way to 108.33. The Dollar's weakness came amidst easing trade war fears and an uptick in inflation that strengthened the euro.
Bitcoin Spot ETF products in the U.S. saw massive inflows of $908 million on Friday as compared with outflows of $242 million a day earlier.
Overall crypto market capitalization is currently at $3.52 trillion registering an overnight gain of 1.3 percent.
Bitcoin gained 1.6 percent overnight to trade at $99,027.83, around 9 percent below the all-time high. BTC has added 6.8 percent in the past week. The leading cryptocurrency traded between $99,853.85 and $97,291.76 in the past 24 hours.
Bitcoin Spot ETF products in the U.S. saw inflows of $908 million on Friday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with inflows of $357 million. iShares Bitcoin Trust (IBIT) recorded inflows of $253 million. Ark 21Shares Bitcoin ETF (ARKB) received inflows of $223 million.
Ethereum rallied 0.8 percent in the past 24 hours to trade at $3,633.07 around 26 percent below the previous peak recorded in November 2021. Weekly gains are more than 8.8 percent. Ether traded between $3,695.27 and $3,594.62 in the past 24 hours.
Ether Spot ETF products in the U.S. recorded inflows of $59 million on Friday versus outflows of $78 million a day earlier.
3rd ranked XRP (XRP) added 0.9 percent overnight to trade at $2.38, around 38 percent below the all-time high touched in January 2018. The cryptocurrency's weekly gains are close to 17 percent.
The price of 5th ranked Solana (SOL) increased 2.5 percent overnight. With weekly gains of 14.7 percent, SOL is currently trading at $217.32, around 18 percent below its record high on November 23, 2024.
6th ranked BNB (BNB) rallied 1.4 percent overnight and 3.2 percent in the past week at its current trading price of $714.39. BNB is currently trading 10 percent below the all-time high touched on December 4, 2024.
7th ranked Dogecoin (DOGE) added 1.6 percent overnight to trade at $0.3833. Having leaped 22 percent in the past week, DOGE is trading 48 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) slipped 0.9 percent overnight to trade at $1.07. ADA is currently trading 66 percent below the record high touched in September 2021.
10th ranked TRON (TRX) added 1.4 percent overnight to trade at $ 0.265. TRX has added 4.8 percent in the past week. The trading price is 40 percent below the cryptocurrency's all-time high recorded on December 4, 2024.
79th ranked SPX6900 (SPX) topped overnight gains with a surge of 17.3 percent. 55th ranked Injective (INJ) followed with gains of 13.7 percent. 69th ranked The Sandbox (SAND) also added more than 10 percent in the past 24 hours.
58th ranked Movement (MOVE) topped overnight losses with a decline of 5.8 percent. 45th ranked Ethena (ENA) followed with losses of 4.5 percent.
Meanwhile, the CoinShares' Digital Asset Fund Flows report released earlier in the day showed 2024 flows at $44.2 billion versus $2.2 billion in 2023. According to the report, Bitcoin topped flows by asset, iShares ETF topped flows by provider and United States topped flows by country during the past year. iShares ETF recorded inflows of $40.8 billion. Bitcoin-based products recorded inflows of $38 billion. United States witnessed inflows of more than $44 billion.
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