Cryptocurrencies tumbled and Bitcoin dropped to a little above $78k as renewed trade tariff jitters dampened sentiment towards risk assets. Though gold, crude oil, tech stocks, all declined, the slippage was most pronounced in the case of digital assets.
Anxiety ahead of the release of the PCE-based inflation readings from the U.S. due on Friday morning also weighed on market sentiment.
Amidst the crypto selloff, overall crypto market capitalization dropped to a low of $2.63 trillion before recovering to its current level of $2.66 trillion, implying an overnight loss of more than 6.5 percent. More than 90 percent of the top 100 cryptocurrencies are trading with overnight losses of more than a percent.
Crypto market sentiment had deepened into a state of fear, with the CMC Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the emotional state of the market touching a yearly low of 20 (Fear) on Thursday. It is currently at 21 (Fear) versus 43 (Neutral) a week ago and 53 (Neutral) a month ago. The rout came amidst President Trump’s comments about tariffs on Mexico, Canada and China.
Bearish sentiment towards cryptocurrencies reverberated in the ETF markets also. Outflows from Bitcoin-based ETF products in the U.S. recorded $276 million on Thursday. On Wednesday also outflows were high at $755 million. iShares Bitcoin Trust (IBIT) topped with outflows of $189 million. Bitwise Bitcoin ETF (BITB) however recorded inflows of $18 million.
Ethereum-based ETF products witnessed outflows of $71 million versus outflows of $94 million a day earlier. Fidelity Ethereum Fund (FETH) and iShares Ethereum Trust ETF (ETHA), both recorded outflows in excess of $25 million. No Ether-based Spot ETFs recorded net inflows on Thursday.
Bitcoin (BTC) declined 6.5 percent overnight and 18.5 percent in the past week to trade at $80,639.73. It is currently trading 26 percent below the all-time-high at $109,114.88 recorded on January 20. The original cryptocurrency traded between $86,674.64 and $78,248.92 during the past 24 hours.
The leading cryptocurrency with a market share of 59.9 percent is trading with losses of more than 21 percent over the 30-day horizon. Bitcoin has slipped 13.7 percent on a year-to-date basis in sharp contrast with Gold Futures, that has gained 8.7 percent during the same period.
Amidst the tumble, Bitcoin slipped to the 10th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Ethereum’s overnight losses are much steeper at 9.7 percent in the past 24 hours and 24.6 percent during the past week. Ether has also lost 32 percent over the past 30 days and 36.5 percent in 2025.
Ether’s current trading price of $2,115.06 is 57 percent below its all-time-high. The most valued alternate coin that dominates 9.6 percent of the overall crypto market ranged between $2,357.85 and $2,076.17 in the past 24 hours.
Amidst the plunge, Ethereum slipped several notches to be ranked 45th in global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked XRP (XRP) slipped 9.5 percent overnight to trade at $2.02, around 47 percent below the all-time high touched in January 2018. The cryptocurrency’s weekly losses exceed 24 percent.
5th ranked BNB (BNB) declined 6.5 percent overnight and 14.1 percent in the past week at its current trading price of $570.63. BNB is currently trading 28 percent below the all-time high touched on December 4, 2024.
The price of 6th ranked Solana (SOL) decreased 3.7 percent overnight. With weekly losses of more than 24 percent, SOL is currently trading at $135.16, around 54 percent below its record high on November 23, 2024.
8th ranked Dogecoin (DOGE) plunged 12 percent overnight to trade at $0.1851. Having lost 25.2 percent in the past week, DOGE is trading 75 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) tumbled 11.3 percent overnight to trade at $0.5989. ADA is currently trading 81 percent below the record high touched in September 2021.
10th ranked TRON (TRX) erased 1.7 percent overnight to trade at $0.2252. TRX has slipped 9.1 percent in the past week and 6.3 percent over the past 30 days. The trading price is 49 percent below the cryptocurrency’s all-time high recorded on December 4, 2024.
20th ranked MANTRA (OM) and 76th ranked Berachain (BERA) however dazzled with overnight gains of more than a percent.
39th ranked OFFICIAL TRUMP (TRUMP) topped overnight losses with a decline of 12.3 percent. 59th ranked Maker (MKR) followed with losses of 12.1 percent.
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