Cryptocurrencies faced downward pressure due to macro uncertainties and diminishing expectations for rate cuts. Market leader Bitcoin experienced a decline to $92,971 before making a recovery. Ethereum saw a decline, hitting a low of $3,007. The overall market capitalization reached a 24-hour low of $3.17 trillion. Significant outflows from Bitcoin Spot ETF products in the U.S. indicated a sense of caution among institutional investors, which further dampened market sentiment. On Friday, Bitcoin Spot ETF products experienced significant net outflows totaling $492 million, primarily driven by the iShares Bitcoin Trust, which saw its largest outflows ever at $463 million. In the last week, Bitcoin Spot ETF products experienced net outflows totaling $1.1 billion. On Friday, Ethereum Spot ETF products experienced net outflows totaling $178 million, with a significant $728 million in outflows recorded over the past week.
Expectations for rate cuts from the Federal Reserve have also diminished amid the uncertainty surrounding the backlog of economic data releases. Reports indicates that there is a 43.6 percent chance of a quarter percentage rate cut in December. The figure stood at 44.4 percent just a day prior and was recorded at 62.4 percent a week earlier. The market sentiment has worsened, as per indications. The index has dropped to 17 (Extreme Fear) from 18 (Extreme Fear) just a day prior, reflecting a surge of distress among both retail and institutional investors that has negatively impacted sentiment. Data reveals that crypto liquidations in the last 24 hours total $619.55 million, consisting of $397.33 million in long positions and $222.23 million in short positions. Fewer than 25 of the top 100 cryptocurrencies are experiencing gains exceeding one percent in the year 2025. Approximately 65 of the top 100 cryptocurrencies are currently experiencing year-to-date losses surpassing 1 percent.
Amidst the prevailing institutional and retail weakness affecting market sentiment, the overall cryptocurrency market capitalization has experienced a decline of 0.9 percent over the past 24 hours, now standing at $3.25 trillion. In the last 24 hours, 66 of the top 100 cryptocurrencies have seen declines exceeding 1 percent, while only 2 are experiencing overnight gains of more than a percent. The 24-hour trading volume has surged over 56 percent, reaching $172 billion. Cryptocurrencies within the AI & Big Data sector faced significant losses, experiencing a downturn exceeding 4 percent. Top ranked Bittensor, currently sitting at the 33rd position overall, experienced a decline of 4.4 percent. NEAR Protocol, which secured the second position in its category and stands at 34th overall, experienced a significant overnight decline of 9.4 percent. The privacy category experienced a market cap decline of nearly 2.7 percent. Zcash, leading its category and positioned 12th overall, experienced a decline of 4.9 percent in the last 24 hours. Monero, which holds the second position in its category and ranks 18th overall, has experienced a decline of 7.7 percent. The decline in the Meme category cryptocurrencies was contained to approximately 1.3 percent. The fluctuations in cryptocurrency prices align with the strength of the dollar and the decline of gold. The Dollar Index, which gauges the dollar’s strength against a basket of six currencies, is currently trading above the flatline. The current value stands at 99.36, compared to the previous close of 99.30. Gold Futures set for December delivery are presently priced at $4,081.35 per troy ounce, reflecting a slight overnight decline of 0.31 percent.
Bitcoin experienced a decline of 0.66 percent overnight and has fallen 9.8 percent over the past week, now trading at $95,767.54. This price is approximately 24 percent lower than the all-time high of $126,198.07 reached on October 7. The original cryptocurrency is maintaining a year-to-date gain of 2.5 percent. Ethereum experienced a decline of over one percent overnight, now trading at $3,199.88. The year-to-date price movement has led to a decline of 3.9 percent. Ether is currently trading at a price that is 35 percent lower than its all-time high. XRP, currently ranked 4th, experienced a slight decline of 0.13 percent overnight, bringing its trading price down to $2.27. BNB, currently holding the 5th rank, saw a decline of 1.5 percent overnight, bringing its price down to $933.71. The 6th ranked Solana saw a decline of 0.62 percent overnight, bringing its price to $142.08. TRON, currently ranked 8th overall, experienced a decline of 1.6 percent overnight and is now trading at $0.2933. Dogecoin, currently sitting at the 9th rank, experienced a decline of 1.6 percent overnight, with its price now at $0.1624. Cardano, currently sitting at the 10th rank, experienced a decline of 2.5 percent overnight, bringing its trading price to $0.4952. In the latest market movements, 25th ranked Uniswap saw a gain of 1.8 percent, while 45th ranked Ethena rallied by 1.2 percent. These two cryptocurrencies are the only ones in the top 100 to trade in the overnight green zone. In the latest market movements, 34th ranked NEAR Protocol and 38th ranked Internet Computer have emerged as the biggest losers among the top 100 cryptocurrencies, each experiencing a decline exceeding 9 percent.