Bitcoin Breaches $72k, Crypto Market Cap Jumps Almost 10%

WASHINGTON (dpa-AFX) - An emphatic rally engulfed crypto markets amidst a confluence of multiple positive catalysts that converged on an otherwise tepid market environment. Crypto markets cheered the liquidity boost announced by the U.S. Treasury Dept, the massive inflows to U.S.-listed Bitcoin Spot ETF products as well as a renewed crypto push by the White House that renewed hopes of a passage of the Clarity Act. The liquidation of short positions that followed, have lifted crypto market capitalization to $2.43 trillion, implying an overnight surge of 9.6 percent.Bitcoin touched high of $72,397 during the past 24 hours while overall crypto market capitalization has touched a high of $2.44 trillion. The CMC Crypto Fear and Greed Index that tracks sentiment in the crypto market has surged to the Greed zone with a reading of 60. The index was at 55 (neutral) a day ago and 37 (fear) a week earlier. U.S. Treasury Dept's announcement regarding the doubling of bond buybacks and the potential liquidity boost it would provide supported sentiment in crypto markets.Bitcoin has jumped to the 12th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is now positioned between 11th ranked Saudi Aramco and 13th ranked Meta Platforms. With the massive overnight rally of almost 18 percent, Ethereum has jumped to the 69th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.The 24-hour liquidation statistics from Coinglass shows crypto liquidations jumping to $3.4 billion. Liquidation of long positions stood at $297 million that was more than eclipsed by the liquidation of short positions which amounted to $3.1 billion.Amidst a massive short squeeze, overall crypto market capitalization has increased 9.6 percent overnight to $2.43 trillion while market leader Bitcoin traded between $72,397 and $65,863 during the same period. The increase in overall crypto market capitalization was also accompanied by a 225-percent increase in trading volumes.Bitcoin (BTC), the largest cryptocurrency is currently trading 9.95 percent higher on an overnight basis at $71,769.74. The current price is around 43 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency's year-to-date losses have fallen to less than 18 percent.Bitcoin Spot ETF products in the U.S. witnessed net inflows of $517 million on Wednesday versus net inflows of $189 million on Tuesday and $298 million on Monday. iShares Bitcoin Trust ETF topped with net inflows of $285 million.Ethereum (ETH) is trading 17.9 percent higher at $2,282.28. The leading alternate coin is trading 54 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $2,327.70 and $1,966.88. Ethereum's year-to-date losses have decreased to 23.1 percent.Ethereum Spot ETF products in the U.S. witnessed net inflows of $187 million on Wednesday versus $71 million on Tuesday and $31 million on Monday. iShares Ethereum Trust ETF (ETHA) topped with net inflows of $122 million.4th ranked BNB (BNB) jumped 6.3 percent overnight resulting in price increasing to $642.61. BNB is trading 53 percent below the all-time high of $1,370.55 touched on October 13, 2025.5th ranked XRP (XRP), a payments-focused cryptocurrency surged 20.1 percent overnight and is currently trading at $1.22, around 68 percent below the all-time high of $3.84 touched on January 4, 2018.The price of 7th ranked Solana (SOL) increased 10.2 percent overnight to $86.58. SOL's current price is around 71 percent below its all-time-high of $294.33 recorded on January 19, 2025. U.S.-listed Solana Spot ETF products witnessed net inflows of $3 million on Wednesday.TRON (TRX) ranked 8th overall is currently trading 1.8 percent higher at $0.3380. The trading price is 23 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.9th ranked Hyperliquid (HYPE) rallied 22.59 percent overnight, to trade at $72.01, around 6 percent below the all-time high of $76.85 recorded on June 16. U.S.-listed Hyperliquid Spot ETF products witnessed net outflows of $2 million on Wednesday.Memecoin Dogecoin (DOGE) ranked 10th overall gained more than 10 percent overnight and is currently trading at $0.0776. DOGE is trading 89 percent below the peak price of $0.7376 recorded on May 8, 2021.For More Cryptocurrency News, visit rttnews.comCopyright(c) 2026 RTTNews.com. All Rights ReservedCopyright RTT News/dpa-AFX