Cryptos Muted Despite Soft Producer Prices

WASHINGTON (dpa-AFX) - Cryptocurrencies remain rangebound on Thursday even as global markets cheered the soft producer price inflation readings from the U.S. as well as the decline in global crude oil prices. The sentiment in the crypto market also appeared to diverge from the tech-heavy Nasdaq, which has rallied close to a percent.The decline in global crude oil prices, an easing in the sovereign bond yields or the U.S. dollar's retreat against a basket of six currencies failed to lift cryptocurrencies to an overnight positive trajectory. In the past 24 hours, overall crypto market capitalization has dropped almost quarter percent below the flatline while Bitcoin has edged up above the levels a day ago. The leading cryptocurrency is currently trading near $63,768.Data released by the U.S. Bureau of Labor Statistics just a while ago showed flat producer price inflation in July, versus -0.1 percent in June and market expectation of 0.2 percent. The core component thereof stood at 0.2 percent versus 0.4 percent in the previous month and market forecast of 0.3 percent.In response to the soft producer price inflation data, markets further toned down rate hike expectations from the Federal Reserve, supporting crypto market sentiment. Expectations of a pause by the Fed in September has increased to 66 percent from 59 percent a day earlier. Likewise, the probability of a status quo in October has increased to 51 percent from 45 percent a day earlier. Markets had a day ago assigned a probability of 25 percent only for a Fed rate hold in December. With both consumer and producer price inflation readings showing no negative surprises, markets have raised the expectations of a pause to 31 percent.Liquidation of long positions continues to surpass the liquidation of short positions. The 24-hour liquidation statistics from Coinglass shows crypto liquidations at $146 million comprising long positions of $81 million and short positions of $65 million.Overall crypto market capitalization has decreased 0.17 percent overnight to $2.18 trillion while market leader Bitcoin traded between $63,926 and $63,251 during the same period. The decrease in overall crypto market capitalization was accompanied by an 18-percent plunge in trading volumes.Bitcoin (BTC), the largest cryptocurrency is trading 0.01 percent higher at $63,768.48. The current price is around 49 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency's year-to-date losses stand at 27.1 percent.Bitcoin Spot ETF products in the U.S. witnessed net outflows of $61 million on Wednesday versus net inflows of $8 million on Tuesday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with net outflows of $47 million.Bitcoin is continuing in the 14th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is positioned between 13th ranked Tesla and 15th ranked Samsung.Ethereum (ETH) is trading 0.32 percent lower at $1,890.79. The leading alternate coin is trading 62 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $1,898.23 and $1,871.71. Ethereum's year-to-date losses have increased to 36.3 percent.Ethereum Spot ETF products in the U.S. witnessed net inflows of $7 million on Wednesday versus net outflows of $2 million on Tuesday. iShares Ethereum Trust ETF (ETHA) accounted for the entire inflows.Ethereum is continuing in the 91st position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.4th ranked BNB (BNB) slipped 0.42 percent overnight resulting in price decreasing to $610.27. BNB is trading 55 percent below the all-time high of $1,370.55 touched on October 13, 2025.6th ranked XRP (XRP), a payments-focused cryptocurrency lost 0.73 percent overnight and is currently trading at $1.00, around 74 percent below the all-time high of $3.84 touched on January 4, 2018.The price of 7th ranked Solana (SOL) increased 0.46 percent overnight to $76.29. SOL's current price is around 74 percent below its all-time-high of $294.33 recorded on January 19, 2025.TRON (TRX) ranked 8th overall is currently trading 0.45 percent lower at $0.3343. The trading price is 24 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.9th ranked Hyperliquid (HYPE) jumped 3.9 percent overnight, to trade at $57.81, around 25 percent below the all-time high of $76.85 recorded on June 16.Memecoin Dogecoin (DOGE) ranked 10th overall dropped 0.47 percent overnight and is currently trading at $0.0701. DOGE is trading 90 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