Cryptocurrencies are trading slightly above the flatline even as global financial markets grapple with the uncertainty related to the Middle East conflict as well as brace for key events like inflation data release, new Fed chairmanship, etc. Overall cryptocurrency market capitalization has increased more than half a percent in the past 24 hours.
Fresh uncertainty gripped the Middle East peace process after President Trump rejected Iran's response to the peace plan. While crude oil rallied, bond yields spiked and the dollar strengthened in response to the development, prices of gold have declined.
Consumer price readings due from the U.S. on Tuesday morning is expected to reveal an uptick in annual headline inflation as well as month-on-month core inflation. The month-on-month headline reading is expected to edge lower. The producer price inflation update due on Wednesday is also expected to show a mild decline.
Amidst lingering anxiety about the impact of energy price shock on inflation levels, the CoinMarketCap's Fear and Greed Index, an indicator of crypto market sentiment has slipped further in the "neutral" territory, to 50 from 52 a day earlier.
The mildly positive sentiment in the markets is reflected in the 24-hour liquidation statistics as well. The 24-hour liquidation statistics from Coinglass reveals short positions exceeding long positions. Crypto liquidations - forced closure of a trader's leveraged position by an exchange or lending protocol for insufficient funds (margin or collateral) to cover potential losses - in the past 24 hours stood at $406 million, comprising long positions of $164 million and short positions of $242 million.
Overall crypto market capitalization has gained 0.52 percent in the past 24 hours to $2.7 trillion. The 24-hour trading volume has also increased 79 percent to $102 billion. Around 50 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent whereas around 15 are trading with overnight losses of more than a percent.
Bitcoin (BTC), the largest cryptocurrency is trading 0.41 percent higher at $81,100.25. The current price is around 36 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has however gained 3.5 percent in the past week, limiting year-to-date losses to 7.3 percent.
Bitcoin Spot ETF products in the U.S. witnessed net outflows of $146 million on Friday versus $269 million on Thursday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with net outflows of $98 million followed by iShares Bitcoin Trust ETF (IBIT) and ARK 21Shares Bitcoin ETF (ARKB) that both recorded net outflows of $27 million.
Bitcoin is currently ranked 11th in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. Saudi Aramco is ranked 10th whereas Meta Platforms is ranked 12th.
Ethereum (ETH) rallied 0.55 percent overnight as it traded at $2,337.80. The leading alternate coin is trading 53 percent below the all-time-high of $4,953.73 recorded on August 25, 2025.
Ethereum Spot ETF products in the U.S. witnessed net inflows of $4 million on Friday versus net outflows of $104 million on Thursday. The inflow is attributed entirely to iShares Staked Ethereum Trust ETF (ETHB).
Ethereum has improved 5 notches to the 60th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Bitcoin's crypto market dominance has decreased to 60.06 percent. At the same time, Ethereum's share of the of the crypto market has edged up to 10.44 percent. Amidst the fading risk aversion, stablecoins have edged down to 11.96 percent of the overall crypto market.
4th ranked XRP (XRP) rallied 1.8 percent overnight and is currently trading at $1.45, around 62 percent below the all-time high of $3.84 touched on January 4, 2018.
5th ranked BNB (BNB) added more than half a percent overnight resulting in price increasing to $653.69. BNB is trading 52 percent below the all-time high of $1,370.55 touched on October 13, 2025.
The price of 7th ranked Solana (SOL) rallied 1.85 percent overnight to $95.45. SOL's current price is around 68 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall added 0.56 percent overnight and is currently changing hands at $0.3508. The trading price is 20 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Dogecoin (DOGE) gained 1.7 percent overnight and is currently trading at $0.1100. DOGE is trading 85 percent below the peak price of $0.7376 recorded on May 8, 2021.
10th ranked Hyperliquid (HYPE) however dropped 1.72 percent in the past 24 hours. HYPE is trading at $42.05, around 29 percent below the all-time high of $59.39 recorded on September 18, 2025.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.