Cryptos Fall As Crude Oil Prices, Rate Hike Bets Rise

WASHINGTON (dpa-AFX) - Cryptocurrencies mostly declined during the past 24 hours as markets reconciled to the spike in rate hike expectations from the Federal Reserve in the wake of hawkish comments from the Fed Chair. The sudden escalation in geopolitical tensions in the Middle East and the surge in crude oil prices that followed have also added to the bearish sentiment in crypto markets. The net outflows from U.S.-listed Bitcoin Spot ETF products also weighed on sentiment. Losses were limited by reports of Bitcoin purchases by Strategy Inc.Bitcoin touched a high of $79,373 during the past 24 hours. Overall cryptocurrency market capitalization has slipped mildly from the flatline.Crypto market sentiment was boosted by renewed hopes of institutional support to the cryptocurrency market. Virginia-headquartered Strategy Inc (MSTR) on Monday announced acquiring 4,603 Bitcoins worth $369.7 million during the period from August 24 to August 30. The leading Bitcoin treasury company led by Michael Saylor has lifted its total holdings of Bitcoins to 845,050. The average cost of the holdings is at $75,412.The CMC Crypto Fear and Greed Index that tracks sentiment in the crypto market is steady at 75 (Greed). The index was at 81 (Extreme Greed) a week ago and 34 (Fear) a month earlier.During the past 24 hours, liquidation of long positions in the crypto market exceeded the liquidation of short positions significantly. Liquidation of long positions amounted to $298 million while liquidation of short positions amounted to $139 million. The aggregate liquidations during the 24-hour period stood at $437 million.Overall crypto market capitalization has dropped 0.54 percent overnight to $2.64 trillion. The decrease in overall crypto market capitalization was accompanied by an almost 98-percent increase in trading volumes.At current prices, Bitcoin's dominance of the crypto market is 60.10 percent. Ethereum accounts for 11.35 percent of the market while other cryptocurrencies including stablecoins account for 28.55 of the overall cryptocurrency market.Bitcoin (BTC), the largest cryptocurrency is currently trading 0.48 percent lower on an overnight basis at $78,333.78, around 38 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The leading cryptocurrency has lost 1.6 percent over the course of the past week. Year-to-date losses have increased to 24.2 percent.Bitcoin Spot ETF products in the U.S. witnessed net outflows of $202 million on Friday versus net inflows of $242 million on Thursday and $232 million on Wednesday. The net outflows happened after 9 consecutive sessions of net inflows. ARK 21Shares Bitcoin ETF topped with net outflows of $115 million.Bitcoin is continuing in the 12th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is positioned between 11th ranked Saudi Aramco and 13th ranked Meta Platforms.Ethereum (ETH) is trading 0.63 percent lower at $2,459.71, around 50 percent below the all-time-high of $4,953.73. The leading alternate coin has lost 2.4 percent over the course of the past week.Ethereum Spot ETF products in the U.S. witnessed net inflows declining to $102 million on Friday from $226 million on Thursday. iShares Ethereum Trust ETF (ETHA) topped with net inflows of $84 million.Ethereum has slipped to the 64th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.4th ranked BNB (BNB) slipped 1.3 percent overnight resulting in price decreasing to $689.25.5th ranked XRP (XRP), a payments-focused cryptocurrency slipped 2.22 percent overnight and is currently trading at $1.37. Weekly losses have surpassed 9.6 percent.The price of 7th ranked Solana (SOL) decreased 3.1 percent overnight to $103.14. U.S.-listed Solana Spot ETF products witnessed net inflows of $17 million on Friday.TRON (TRX) ranked 8th overall is currently trading 2.3 percent lower at $0.3327.9th ranked Hyperliquid (HYPE) is trading 2.4 percent lower on an overnight basis, at $81.50. U.S.-listed Hyperliquid Spot ETF products recorded inflows of $5 million on Friday.10th ranked Dogecoin (DOGE) is trading 2.9 percent lower on an overnight basis at $0.0829.For More Cryptocurrency News, visit rttnews.comCopyright(c) 2026 RTTNews.com. All Rights ReservedCopyright RTT News/dpa-AFX