Cryptos Hesitant Despite Easing In Bond Yields

WASHINGTON (dpa-AFX) - A weaker-than-expected update from the U.S. job market that triggered an easing in bond yields and the toning down of Fed rate hike bets failed to lift cryptocurrencies to the overnight green zone. Anxiety ahead of the monthly payrolls data due on Friday weighed on sentiment. Overall cryptocurrency market capitalization has slipped more than 1 percent on an overnight basis while Bitcoin is trading 1.2 percent below the previous day's levels.Data released on Wednesday morning showed private businesses in the U.S. adding 38 thousand jobs in August versus an upwardly revised 46 thousand in July. The lowest level since January came in below forecasts of 47 thousand.Sovereign bond yields in the U.S. eased across tenors on Wednesday morning. Long dated thirty-year bonds declined 0.08 percent while ten-year bonds eased 0.10 percent. Yields on the shorter end of the curve too eased. Five-year bond yields dropped 0.11 percent whereas two-year bond yields declined 0.14 percent.The CME FedWatch tool shows the likelihood of a quarter-percentage rate hike on September 16 at 66.2 percent, declining from 67.2 percent a day earlier, in the wake of weaker-than-expected data from the labor market.Overall crypto market capitalization has dropped 1.14 percent overnight to $2.6 trillion. The decrease in overall crypto market capitalization was accompanied by a 2-percent increase in trading volumes.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 $280 million versus $102 million a day earlier. Liquidation of short positions amounted to $72 million, declining from $91 million a day earlier. The aggregate liquidations during the 24-hour period stood at $352 million versus $193 million a day ago.At current prices, Bitcoin's dominance of the crypto market is 59.49 percent. Ethereum accounts for 11.26 percent of the market while other cryptocurrencies including stablecoins account for 29.25 of the overall cryptocurrency market.Bitcoin (BTC), the largest cryptocurrency is currently trading 1.2 percent lower on an overnight basis at $77,100.03. The leading cryptocurrency has lost 1.7 percent over the course of the past week. Bitcoin traded between $78,392 and $76,248 during the past 24 hours.Bitcoin Spot ETF products in the U.S. witnessed net outflows of $237 million on Tuesday as compared with net inflows of $217 million on Monday. iShares Bitcoin Trust ETF (ETHA) topped with net outflows of $201 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 1.7 percent lower at $2,401.53. The leading alternate coin has lost 2.24 percent over the course of the past week.Ethereum Spot ETF products in the U.S. witnessed net inflows declining to $9 million on Tuesday from $88 million on Monday and $102 million on Friday. iShares staked Ethereum Trust ETF (ETHB) topped with net inflows of $11 million.Ethereum has improved to the 63rd position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.4th ranked BNB (BNB) edged up 0.05 percent overnight resulting in price increasing to $686.92.5th ranked XRP (XRP), a payments-focused cryptocurrency dropped 2.6 percent overnight and is currently trading at $1.33. Weekly losses have surpassed 3.8 percent.The price of 7th ranked Solana (SOL) decreased 2.9 percent overnight to $99.04. U.S.-listed Solana Spot ETF products witnessed net inflows of $9 million on Tuesday.TRON (TRX) ranked 8th overall is currently trading 0.45 percent lower at $0.3246.9th ranked Hyperliquid (HYPE) is trading 2.8 percent lower on an overnight basis, at $81.33. U.S.-listed Hyperliquid Spot ETF products witnessed net inflows of $2 million on Tuesday.Zcash (ZEC) positioned as 10th rank overall plunged 5.1 percent overnight to trade at $809.72.For More Cryptocurrency News, visit rttnews.comCopyright(c) 2026 RTTNews.com. All Rights ReservedCopyright RTT News/dpa-AFX