Amidst persisting geopolitical tensions in the Middle East as well anxiety ahead of the Fed’s interest rate review and forward guidance, cryptocurrencies have declined further.
The Federal Reserve has commenced its two-day meeting and is scheduled to announce its decision on interest rates on Wednesday afternoon. The CME FedWatch tool that tracks the expectations of interest rate traders shows a 99.99 percent probability that the Fed will hold rates steady.
Overall crypto market capitalization has slipped 0.92 percent in the past 24 hours. It is currently at $3.31 trillion. Only 7 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent. The 24-hour trading volume has in the meanwhile increased more than 36 percent overnight to $132 billion.
Aligning with the change in global market sentiment, the CMC Crypto Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the emotional state of the market improved to 53 from 51 a day earlier. Both the readings indicate a neutral state.
Bitcoin slipped 0.53 percent overnight to trade at $106,593. It is currently trading 5 percent below the all-time-high of $111,970 recorded on May 22. The original cryptocurrency traded between $107,252 and $104,520 during the past 24 hours.
The leading cryptocurrency with a market share of 63.7 percent is trading with losses of 2.3 percent over the 7-day horizon and gains of 2.5 percent over the 30-day horizon. Year-to-date gains are a little more than 14 percent.
Ethereum dropped 2.2 percent overnight and 3.8 percent in the past week to trade at $2,573. Losses in 2025 have increased to a little less than 23 percent. Ether’s current trading price is 47 percent below its all-time-high. The 24-hour trading range was between $2,637 and $2,493.
Inflows to Bitcoin-based Spot ETF products in the U.S. recorded $409 million on Monday versus $302 million on Friday and $86 million on Thursday. iShares Bitcoin Trust (IBIT) topped with inflows of $267 million.
Ethereum-based Spot ETF products witnessed inflows of $21 million on Monday versus outflows of $2 million a day earlier.
Bitcoin is currently ranked 7th and Ethereum 35th in the ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked XRP added 0.72 percent overnight to trade at $2.21, around 42 percent below the all-time high.
5th ranked BNB edged up 0.12 percent overnight at its current trading price of $657.
The price of 6th ranked Solana slipped 3.4 percent overnight to $151.64.
8th ranked Dogecoin lost 3 percent overnight to trade at $0.1725. DOGE is currently trading 77 percent below the record high.
9th ranked TRON gained 2.2 percent overnight and is currently changing hands at $0.2773.
10th ranked Cardano slipped 3.5 percent overnight to trade at $0.6249. The trading price is 80 percent below the cryptocurrency’s all-time high.
22nd ranked Monero (XMR) and 13th ranked Bitcoin Cash (BCH) topped overnight gains among the top 100 cryptocurrencies with an overnight surge of 4.2 percent. 67th ranked AB(AB) also followed with gains of more than 2 percent.
57th ranked SPX6900 (SPX) topped overnight losses among the top 100 cryptocurrencies with a decline of more than 13 percent. 82nd ranked Immutable (IMX) followed with overnight losses of more than 10 percent.
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