WASHINGTON (dpa-AFX) - Cryptocurrencies are trading in a muted fashion even as tariff concerns that created worldwide panic over the weekend appeared to ease. Tuesday's press conference by David Sacks, White House's AI and Crypto Czar failed to boost sentiment as markets were peeved by the lack of concrete steps towards the setting up of a Strategic Bitcoin Reserve.
Anxiety ahead of Friday's jobs data and fears about a tightening in the dollar liquidity also dampened crypto market sentiment.
Data released just a while ago that showed a hiring momentum in the U.S. also weighed on crypto prices. With private businesses in the U.S. adding 183 thousand workers to their payrolls in January, higher than an upwardly revised 176 thousand in December and surpassing forecasts of 150 thousand, hopes of any interest rate respite from the Federal Reserve faded.
The demand for gold that led to the yellow metal scaling a fresh high on Wednesday also subdued the sentiment for Bitcoin and other top-ranked cryptocurrencies. Gold futures (for April settlement) touched a fresh all-time high of $2,901.41 on Wednesday, implying a gain of close to 42 percent over the past one year.
Overall cryptocurrency market capitalization is currently at $3.23 trillion, implying an overnight decline of 1.4 percent. The 24-hour trading volume has dropped 27 percent to $166 billion.
Only a fourth of the top 100 cryptocurrencies are trading with overnight gains of more than a percent. Likewise, only 9 are trading with gains of more than 1 percent on a weekly basis. Only 22 cryptocurrencies are trading with gains of more than a percent on a year-to-date basis.
Bitcoin dropped 0.42 percent overnight to trade at $98,607.29, around 10 percent below the all-time high. BTC has lost 3.3 percent in the past week and 0.24 percent over the past 30 days. The original cryptocurrency is, however, holding on to gains of 5.6 percent on a year-to-date basis. The 24-hour trading range was between $100,807.36 and $96,208.11.
Data from Farside Investors showed that Bitcoin Spot ETF products in the U.S. recorded inflows of $341 million on Tuesday versus outflows of $234 million a day earlier.
Ethereum however gained 0.62 percent in the past 24 hours to trade at $2,814.27, around 42 percent below the previous peak recorded in November 2021. Weekly losses exceed 9 percent. Ether traded between $2,869.51 and $2,636.17 in the past 24 hours.
Latest data revealed that inflows to Ethereum Spot ETF products in the U.S. jumped to $308 million on Tuesday from $84 million a day earlier.
3rd ranked XRP (XRP) slipped 2.8 percent overnight to trade at $2.54, around 34 percent below the all-time high touched in January 2018. The cryptocurrency's weekly losses exceed 17 percent.
The price of 5th ranked Solana (SOL) decreased 2.7 percent overnight. With weekly losses of 9.7 percent, SOL is currently trading at $205.77, around 30 percent below its record high on January 19, 2025.
6th ranked BNB (BNB) declined 0.7 percent overnight and 13.3 percent in the past week at its current trading price of $577.41. BNB is currently trading 27 percent below the all-time high touched on December 4, 2024.
8th ranked Dogecoin (DOGE) dropped close to a percent overnight to trade at $0.2674. Having shed 17.5 percent in the past week, DOGE is trading 64 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) rallied close to 2 percent overnight to trade at $0.7709. ADA is currently trading 75 percent below the record high touched in September 2021.
10th ranked TRON (TRX) added 1.1 percent overnight to trade at $ 0.226. TRX has shed 5.1 percent in the past week. The trading price is 49 percent below the cryptocurrency's all-time high recorded on December 4, 2024.
100th ranked FTX Token (FTT) topped overnight gains with a surge of 11.9 percent. 34th ranked OFFICIAL TRUMP (TRUMP) followed with gains of 10.4 percent in the past 24 hours.
55th ranked Raydium (RAY), 91st ranked Jito (JTO) and 52nd ranked Ethena (ENA), all declined more than 8 percent in the past 24 hours.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
