The U.S.-Iran impasse that impacted sentiment across global markets reverberated in the cryptocurrency markets also. The spike in crude oil prices and the potential upward pressure on inflation also impacted market sentiment. Markets also digested earnings update from Mara Holdings that witnessed earnings hit due to Bitcoin losses. Overall cryptocurrency market capitalization has decreased more than half percent in the past 24 hours.
Anxiety ahead of the CPI data release for April due on Tuesday morning has also weighed on crypto market sentiment. The Middle East war and the more than 76 percent year-to-date spike in crude oil prices has exacerbated worries about a hawkish monetary policy outlook worldwide.
Headline annual inflation is seen rising to 3.7 percent in April from 3.3 percent in March. The core component thereof is expected to edge up to 2.7 percent from 2.6 percent in March. Though headline inflation on a month-on-month basis is expected to decline to 0.6 percent from 0.9 percent in March, the core component thereof is expected to edge up to 0.3 percent from 0.2 percent in the previous month.
Amidst a weak market sentiment, 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 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 $253 million, comprising long positions of $145 million and short positions of $108 million.
Overall crypto market capitalization has slipped 0.64 percent in the past 24 hours to $2.7 trillion. The 24-hour trading volume has also decreased 16 percent to $66 billion. Around 14 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent whereas around 50 are trading with overnight losses of more than a percent.
Bitcoin (BTC), the largest cryptocurrency is trading 0.44 percent lower at $80,670.67. 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 edged down 0.13 percent in the past week, lifting year-to-date losses to 7.8 percent.
Bitcoin Spot ETF products in the U.S. witnessed net inflows of $27 million on Monday versus net outflows of $146 million on Friday. Morgan Stanley Bitcoin Trust (MSBT) topped with net inflows of $26 million whereas iShares Bitcoin Trust ETF (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) witnessed net outflows.
With Tesla, Inc. (TSLA) rallying 3.89 percent overnight and rising to the 11th rank in the global ranking of all assets as per market capitalization published by companiesmarketcap.com, Bitcoin has slipped to the 12th rank overall. Meta Platforms (META) is ranked 13th.
Ethereum (ETH) declined more than 2 percent overnight as it traded at $2,285.33. The leading alternate coin is trading 54 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 outflows of $17 million on Monday versus net inflows of $4 million on Friday.
Ethereum has slipped 4 notches to the 64th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Bitcoin's crypto market dominance has increased to 60.11 percent. At the same time, Ethereum's share of the of the crypto market has edged down to 10.28 percent. Amidst the fading risk aversion, stablecoins have edged up to 12.01 percent of the overall crypto market.
4th ranked XRP (XRP) dropped 0.29 percent overnight and is currently trading at $1.44, around 62 percent below the all-time high of $3.84 touched on January 4, 2018.
5th ranked BNB (BNB) added more than a percent overnight resulting in price increasing to $660.82. 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) dropped 0.17 percent overnight to $95.03. 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 lost 0.68 percent overnight and is currently changing hands at $0.3486. The trading price is 21 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Dogecoin (DOGE) lost close to a percent overnight and is currently trading at $0.1090. DOGE is trading 85 percent below the peak price of $0.7376 recorded on May 8, 2021.
10th ranked Hyperliquid (HYPE) dropped 1.85 percent in the past 24 hours. HYPE is trading at $40.90, around 31 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.