WASHINGTON (dpa-AFX) - Cryptocurrencies declined in the past 24 hours as renewed concerns over a recession in the United States dampened global market sentiment, including for risk sensitive cryptocurrencies.
Overall cryptocurrency market capitalization declined more than 3 percent to $2.64 trillion whereas close to three-fourths of the top 100 cryptocurrencies are now trading with overnight losses of more than a percent.
The decline in the dollar-denominated prices of cryptocurrencies is despite broad dollar weakness and an easing in bond yields.
The six-currency Dollar Index which measures the U.S. Dollar's strength against a basket of 6 currencies is currently at 103.81 versus 103.84 at close on Friday.
Ten-year bond yields in the U.S. decreased 2.2 percent whereas the 5-year tenor saw a decline of 2.1 percent. Yields in the longer tenor of 30 years also saw an easing of 1.6 percent. Ten-year bond yields eased in Germany, France, Japan and Canada as well. Though a decline in general interest rates bode well for cryptocurrencies that are typically non-interest bearing, bearish sentiment prevailed in the cryptocurrency markets.
Bitcoin (BTC) tumbled more than 3 percent overnight and 13.7 percent in the past week to trade at $80,716.14. It is currently trading 26 percent below the all-time-high at $109,114.88 recorded on January 20. The original cryptocurrency traded between $83,955.93 and $80,052.49 during the past 24 hours.
The leading cryptocurrency with a market share of 60.3 percent is trading with losses of close to 16 percent over the 30-day horizon. Bitcoin has slipped 13.6 percent on a year-to-date basis in sharp contrast with Gold Futures, that has gained 10.1 percent during the same period.
Amidst the tumble, Bitcoin slipped to the 9th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Ethereum's losses are at 3.03 percent in the past 24 hours and 13.9 percent during the past week. Ether has lost 21.8 percent over the past 30 days and 38.5 percent till date in 2025.
Ether's current trading price of $2,049.08 is 58 percent below its all-time-high. The most valued alternate coin that dominates 9.3 percent of the overall crypto market ranged between $2,150.71 and $1,991.19 in the past 24 hours. Amidst the plunge, Ethereum is ranked 48th in global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked XRP (XRP) slipped 3.1 percent overnight to trade at $2.12, around 45 percent below the all-time high touched in January 2018. The cryptocurrency has however gained 2 percent in 2025.
5th ranked BNB (BNB) declined 2.9 percent overnight and 8.7 percent in the past week at its current trading price of $553.48. BNB is currently trading 30 percent below the all-time high touched on December 4, 2024.
The price of 6th ranked Solana (SOL) dropped 7.3 percent overnight. With weekly losses of more than 25 percent, SOL is currently trading at $123.45, around 58 percent below its record high on November 23, 2024.
8th ranked Dogecoin (DOGE) plunged 6.5 percent overnight to trade at $0.1690. Having lost 24 percent in the past week, DOGE is trading 77 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) tumbled 7 percent overnight to trade at $0.7101. ADA is currently trading 77 percent below the record high touched in September 2021.
10th ranked TRON (TRX) erased 3.3 percent overnight to trade at $0.2336. TRX has shed more than 4 percent in the past week. The trading price is 47 percent below the cryptocurrency's all-time high recorded on December 4, 2024.
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