Bitcoin has approached $80k, and cryptocurrencies are trading positively amid a mixed global market environment. The CMC Crypto Fear and Greed Index, which monitors sentiment within the cryptocurrency market, has ascended to the Extreme Greed zone, reaching a level of 81. The index registered a value of 78, indicating Greed, just a day prior, while a week ago it stood at 40, reflecting a Neutral sentiment. The significant, brief liquidations within the market bolstered the increase in cryptocurrency prices. Short positions totalling $204 million were liquidated in the last 24 hours. Including the liquidation of long positions totalling $157 million, the overall liquidations reached $361 million within the 24-hour timeframe.
Amid the wave of short liquidations, the total market capitalisation of cryptocurrencies has risen by 2.1 percent overnight, reaching $2.67 trillion. The rise in overall crypto market capitalisation was accompanied by a 25-percent increase in trading volumes. Bitcoin, the largest cryptocurrency, is currently trading 3.2 percent higher on an overnight basis at $79,666.79. The leading cryptocurrency has experienced a 24.7 percent increase over the past week. Bitcoin Spot ETF products in the U.S. experienced a reduction in net inflows, decreasing to $308 million on Friday from $606 million on Thursday. iShares Bitcoin Trust ETF recorded net inflows amounting to $239 million.
Bitcoin remains in the 12th position in the global ranking of all assets based on market capitalisation, according to companiesmarketcap.com. The leading cryptocurrency finds itself situated between Saudi Aramco, ranked 11th, and Tesla, ranked 13th. Ethereum is trading 3.5 percent higher at $2,519.97. The leading alternate coin has experienced a 32.3 percent increase over the past week. Ethereum Spot ETF products in the U.S. experienced a decline in net inflows, decreasing to $184 million on Friday from $220 million on Thursday. iShares Ethereum Trust ETF topped with net inflows of $151 million. 4th ranked XRP, a payments-focused cryptocurrency, surged 0.83 percent overnight and is currently trading at $1.51. Weekly gains have exceeded 51 percent. 5th ranked BNB added 0.79 percent overnight, resulting in a price increase to $708.49.
The price of 7th ranked Solana increased by 1.1 percent overnight, reaching $96.38. U.S.-listed Solana Spot ETF products experienced a decrease in net inflows, dropping to $10 million on Friday from $15 million on Thursday. TRON, positioned 8th overall, is presently trading 0.18 percent higher at $0.3442. 9th ranked Hyperliquid is trading flat on an overnight basis, at $79.49. 10th ranked Zcash is trading half a percent higher on an overnight basis at $854.87. Memecoin Dogecoin has seen its overall ranking decline to the 11th position.
