On Wednesday, a core CPI reading from the U.S. that exceeded expectations contributed to a recovery in cryptocurrency markets. The U.S. military’s announcement regarding the completion of military strikes against Iran has also contributed to a rise in cryptocurrency prices. Anxiety surrounding the interest rate decision by the European Central Bank, which is widely anticipated to result in a quarter percentage hike, also influenced sentiment in the crypto market. The interest rate decisions pending from major central banks, along with the Space X IPO, have influenced sentiment in the cryptocurrency market. Bitcoin fluctuated within a range of $62,942 to $60,845 over the last 24 hours. Overall crypto market capitalisation has risen approximately 2 percent during the same timeframe. Concerns regarding a hawkish stance from the Federal Reserve diminished following the release of data from the U.S. Bureau of Labour Statistics, which indicated that annual headline inflation, monthly headline inflation, and annual core inflation aligned with market expectations. The month-on-month core inflation, in contrast, decreased more than anticipated.
In May, the year-on-year headline inflation rate increased to 4.2 percent, up from 3.8 percent in April. On a month-on-month basis, headline inflation declined to 0.5 percent from 0.6 percent in the preceding month. The year-on-year core inflation level, excluding the volatile food and fuel components, rose to 2.9 percent from 2.8 percent in the preceding month. On a month-on-month basis, core inflation decreased to 0.2 percent from 0.4 percent in April, exceeding expectations of a reduction to 0.3 percent. The inflation updates alleviated market sentiment, as cryptocurrencies, which generally do not bear interest, tend to react unfavourably to rises in general interest rates due to the heightened opportunity cost associated with holding them. The latest data on producer price inflation from the U.S. is scheduled for release on Thursday. With broader inflation readings in line and the core reading increasing less than anticipated, the deeply oversold condition in the cryptocurrency market has reversed. After dropping to 14 a day earlier, CoinMarketCap’s Fear and Greed Index, a measure of the prevailing sentiment in the cryptocurrency market, has improved to 16 but remains in the “extreme fear” category. The index was at 20, indicating a state of “fear,” a week ago, and at 52, reflecting a “neutral” stance, a month ago.
The aggregate market capitalisation of cryptocurrencies has experienced a 2 percent increase over the past 24 hours, reaching a total of $2.16 trillion. Among the top 100 cryptocurrencies, approximately 45 are experiencing overnight gains exceeding one percent, while nearly 15 are facing overnight losses surpassing one percent. Bitcoin, the largest cryptocurrency, is trading 2.7 percent higher at $62,797.98. The current price stands approximately 50 percent beneath the all-time high of $126,198.07, which was recorded on October 7, 2025. The original cryptocurrency has experienced a decline of 0.2 percent over the past week and has decreased by more than 28 percent on a year-to-date basis. Bitcoin Spot ETF products in the U.S. experienced a notable increase in net outflows, escalating to $214 million on Wednesday, up from $77 million on Tuesday. iShares Bitcoin Trust ETF topped with net outflows of $149 million. Bitcoin remains in the 14th position in the global ranking of all assets according to market capitalisation data, situated between Samsung at 13th and Berkshire Hathaway at 15th. Ethereum rallied 2.3 percent overnight, trading at $1,656.14. The leading alternate coin is currently positioned 67 percent below its all-time high of $4,953.73, which was achieved on August 25, 2025. The 24-hour trading fluctuated between $1,665.76 and $1,603.83.
Ethereum Spot ETF products in the U.S. experienced net outflows amounting to $36 million on Wednesday, compared to $41 million on Tuesday. iShares Ethereum Trust topped with net outflows of $21 million. The fourth-ranked BNB experienced a 2.7 percent increase overnight, bringing its price to $599.39. BNB is currently positioned 56 percent beneath its all-time high of $1,370.55, which was reached on October 13, 2025. 6th ranked XRP, a payments-focused cryptocurrency, gained 0.72 percent overnight and is currently trading at $1.11, around 71 percent below the all-time high of $3.84 touched on January 4, 2018. U.S.-listed XRP Spot ETF products experienced net inflows of $1.2 million on Wednesday, a decline from the $7.44 million recorded the previous day. The price of 7th ranked Solana increased by 2.9 percent overnight to $65.30. SOL’s current price stands approximately 78 percent lower than its all-time high of $294.33, which was reached on January 19, 2025. TRON ranked 8th overall; however, it experienced a decline of 0.2 percent overnight and is currently trading at $0.3221. The trading price stands at 27 percent below the cryptocurrency’s all-time high of $0.4407, which was recorded on December 4, 2024.
Memecoin Dogecoin ranked 9th overall added 1.84 percent overnight and is currently trading at $0.0850. DOGE is currently positioned 88 percent beneath its peak price of $0.7376, which was achieved on May 8, 2021. 10th ranked Hyperliquid gained 0.33 percent overnight. HYPE is currently priced at $56.03, which represents a decline of approximately 26 percent from its all-time high of $64.59 reached on May 26, 2026. U.S.-listed HYPE Spot ETF products experienced net inflows of $2.8 million on Wednesday, contrasting with no flows recorded the previous day. 34th ranked Audiera topped overnight gains among the top 100 cryptocurrencies with a surge of more than 56 percent. The BEAT token of the Audiera blockchain, which operates within an AI-focused ecosystem where humans and autonomous AI agents are regarded as equal participants, has surged over 500 percent in the past week. 87th ranked Siren topped overnight losses among the top 100 cryptocurrencies with a decline of close to 23 percent.