The crypto market continues to exhibit weak sentiment, standing in stark contrast to the positive vibes on Wall Street, the rise in gold prices, and the strength of the U.S. Dollar. Unabated flows from Bitcoin spot ETF products in the U.S., alongside ebbing Fed rate cut expectations and reports of a crypto-related cybersecurity incident, have contributed to the weakening of crypto market sentiment. The aggregate market capitalization has seen a decline of nearly 3 percent over the last 24 hours. Bitcoin hit a 24-hour low of $107,010. Security concerns have resurfaced after reports emerged of a DeFi protocol that may have been exploited. Blockchain security firm Peckshield reports that Balancer and its forks are currently facing an attack, with total losses across various chains estimated at around $128 million to date. Balancer confirmed its awareness of a possible exploit affecting Balancer v2 pools. The company stated that its engineering and security teams are prioritizing the investigation into the matter.
Futures are showing a slight uptick in positive territory. European benchmarks are showing a mixed performance in today’s trading session. Asian markets wrapped up the trading day with a predominantly positive performance. Gold Futures for December settlement are presently trading at $4,027.77 per troy ounce, indicating overnight gains of 0.78 percent. The yellow metal has seen an increase of 0.49 percent over the past week, maintaining gains of over 52 percent year-to-date. The 6-currency Dollar Index, which gauges the dollar’s strength against a selection of 6 currencies, is presently at 99.97, compared to 99.80 at the last close. The diminishing expectations for rate cuts from the Fed have also impacted market sentiment. Reports indicates that the likelihood of a quarter percentage rate cut in December has increased to 66.3 percent, up from 63 percent on Friday and significantly higher than the 94.4 percent recorded a week ago.
The aggregate crypto market capitalization saw a decline of 2.75 percent overnight. In the latest market update, just 2 of the top 100 cryptocurrencies have managed to gain over a percent overnight, while a staggering 85 have seen declines exceeding 1 percent. The 24-hour trading volume, however, surged 57 percent to reach $153 billion. Bitcoin experienced a drop of 2.4 percent overnight, now sitting at $107,752.44, which is approximately 15 percent lower than its all-time high of $126,198.07 reached on October 7. The original cryptocurrency has seen a decline of 6.3 percent over the past week, while it has experienced gains exceeding 15 percent year-to-date in 2025. The trading range over the past 24 hours fluctuated between $110,765 and $107,011. On Friday, Bitcoin-based Spot ETF products in the U.S. experienced outflows totaling $192 million, a notable decrease compared to the $488 million in outflows recorded on Thursday. The iShares Bitcoin Trust ETF experienced significant outflows, totaling $149 million.
Ethereum experienced a decline of 3.4 percent overnight, now trading at $3,720.56. Projected gains for 2025 are at 11.7 percent. Ether is currently trading at a price that is 25 percent lower than its all-time high. The trading activity over the past 24 hours fluctuated between $3,914.88 and $3,667.84. On Friday, Ethereum-based Spot ETF products experienced outflows totaling $98 million, a notable decrease from the $184 million outflows recorded on Thursday. The iShares Ethereum Trust ETF experienced significant outflows, totaling $39 million. XRP, currently ranked 4th, experienced a decline of 3.9 percent overnight, now trading at $2.42. The 6th ranked Solana saw a decline of 4.9 percent overnight, bringing its price to $175.57. SOL, experiencing losses of 7.2 percent, stands out as the top-ranking cryptocurrency facing year-to-date declines. TRON, currently ranked 8th overall, experienced a 1 percent decline overnight and is now trading at $0.2923. Dogecoin, currently ranked 9th, experienced a decline of 5.2 percent overnight, with its price now at $0.1744. DOGE has experienced a decline of over 44 percent year-to-date in 2025. Cardano, currently sitting at the 10th rank, experienced a decline of 4.5 percent overnight, bringing its trading price down to $0.5754. 40th ranked MemeCore experienced a rally of 2.1 percent, while 51st ranked OFFICIAL TRUMP saw an increase of over a percent. In a notable turn of events, the 74th ranked Virtuals Protocol emerged as the standout performer among the top 100 cryptocurrencies, despite facing a decline of 17.9 percent overnight. 76th ranked Aerodrome Finance experienced overnight losses of 11.3 percent.