The initial surge in cryptocurrencies at the start of the new year has waned, with several top-ranked cryptocurrencies experiencing overnight declines. The escalating geopolitical tensions, coupled with apprehension surrounding the pivotal U.S. jobs data, significantly impacted market sentiment. On Wednesday, the outflows from Bitcoin Spot ETF products in the U.S. contributed to a decline in crypto prices. On Wednesday, data revealed that the ISM Services PMI for the US rose to 54.4 in December, up from 52.6 in November. The readings exceeded expectations of 52.3. Data from the US Bureau of Labor Statistics, released on Wednesday, indicates that job openings in the U.S. reached 7.1 million in November. Markets had anticipated a figure of 7.6 million. The job openings for October have been revised down to 7.4 million. Market participants are eagerly anticipating the jobs data for December, set to be released on Friday morning. The upcoming data from the U.S. Bureau of Labor Statistics is anticipated to reveal an increase of 60 thousand in non-farm payrolls for December. November saw an increase of 64 thousand. The unemployment rate, which stood at 4.6 percent in November, is anticipated to decrease to 4.5 percent. The clarification from MSCI on how digital asset treasury companies handle losses has implications for cryptocurrencies overall, with a specific focus on Bitcoin.
The MSCI has revealed its decision to refrain from implementing the proposal to exclude digital asset treasury companies from the MSCI Global Investable Market Indexes during the February 2026 Index Review. The ruling enabled Virginia-based Strategy Inc to maintain its position in the benchmark equity indices. Markets were gripped by concern as fears mounted that exclusion from the indices could lead to forced selling by passive index funds. The company leads the pack of Bitcoin Treasury firms, boasting holdings nearing 674 thousand BTC. The overall crypto market capitalization stands at $3.08 trillion, reflecting a decline of nearly 2.5 percent overnight. The 24-hour trading volume has seen a significant drop of 20 percent overnight, now standing at $110 billion. Approximately 75 of the leading 100 cryptocurrencies are experiencing overnight losses exceeding one percent. Currently, just seven of the top 100 cryptocurrencies are experiencing overnight gains exceeding one percent. Bitcoin has seen a drop of 2.4 percent over the last 24 hours, currently trading at $89,980.43. The present price sits approximately 29 percent beneath the all-time high of $126,198.07, which was reached on October 7, 2025. The original cryptocurrency has surged by 2.6 percent over the last week. The trading activity over the past 24 hours fluctuated between $92,189.20 and $89,578.31.
Bitcoin currently holds a commanding 58.4 percent share of the total cryptocurrency market. On Wednesday, Bitcoin Spot ETF products in the U.S. experienced net outflows totaling $486 million, an increase from the $243 million recorded on Tuesday. The Fidelity Wise Origin Bitcoin Fund experienced outflows of $248 million, slightly down from the $312 million noted the previous day. Ethereum experienced a decline of 3.5 percent overnight, now trading at $3,110.30. The top alternative cryptocurrency is currently trading at a staggering 37 percent below its all-time high of $4,953.73, which was reached on August 25, 2025. The trading activity over the past 24 hours fluctuated between $3,224.93 and $3,091.03. Ether’s dominance in the crypto market stands at approximately 12.2 percent. On Wednesday, Ethereum Spot ETF products in the U.S. experienced net outflows totaling $98 million, contrasting with the net inflows of $115 million recorded on Tuesday. Grayscale Ethereum Trust experienced net outflows amounting to $52 million. Bitcoin maintains its position as the 8th largest asset globally based on market capitalization, according to data. Ethereum has, however, slipped two notches to the 38th position. XRP, currently holding the 4th rank, has experienced a significant drop of 7.6 percent overnight, now trading at $2.08.
This positions it approximately 46 percent below its all-time high of $3.84, which was reached on January 4, 2018. 5th ranked BNB experienced a decline of 2.9 percent overnight, bringing its price down to $884.00. BNB is currently trading 36 percent below its all-time high of $1,370.55, which was reached on October 13, 2025. The 6th ranked Solana experienced a decline of 2.6 percent overnight, bringing its price down to $134.35. SOL is currently trading approximately 54 percent lower than its all-time high of $294.33, which was reached on January 19, 2025. TRON has secured the 8th position overall, experiencing a 0.37 percent increase overnight and is presently trading at $0.2959. The current trading price stands at 33 percent lower than the cryptocurrency’s all-time high of $0.4407, which was reached on December 4, 2024. Dogecoin, currently ranked 9th, experienced a decline of 5.8 percent overnight, bringing its trading price to $0.1403. DOGE is currently trading at a staggering 81 percent below its previous peak of $0.7376, which was recorded on May 8, 2021. Cardano, currently sitting at the 10th rank, experienced a decline of 6.4 percent overnight, bringing its trading price down to $0.3885. ADA is presently trading 87 percent beneath its all-time high of $3.10, which was reached on September 2, 2021. Chiliz, currently ranked 97th, led the overnight gains within the top 100 cryptocurrencies, achieving an increase of 3.6 percent. Liberty Financial, currently sitting at the 26th rank globally, experienced overnight gains of 3.3 percent. In a notable turn of events, 18th ranked Zcash has emerged as the biggest loser among the top 100 cryptocurrencies, experiencing a significant decline of 19.8 percent overnight. 75th ranked Pump.fun experienced a decline of nearly 16 percent.