A better-than-expected job market update from the U.S. on Friday has dampened rate cut expectations from the Fed, dragging down cryptocurrencies. The fresh round of hostilities between the U.S. and Iran has also weighed on the market's mood. Overall cryptocurrency market capitalization has decreased a little less than 1 percent in the past 24 hours.
Data released just a while ago by the U.S. Bureau of Labor Statistics showed the American economy adding 115 thousand jobs in April versus a revised 185 thousand in the previous month. Markets had expected a far lower addition of 62 thousand. The unemployment rate remains steady at 4.3 percent, matching expectations.
With the robust jobs data increasing the likelihood of interest rates remaining higher for longer, the sentiment towards cryptocurrencies have weakened. Cryptocurrencies being typically non-interest bearing, high interest rates increase the opportunity cost of holding the asset.
In line with the erosion in market sentiment, the CoinMarketCap's Fear and Greed Index that measures the sentiment in the crypto market has slipped further in the "neutral" territory, to 47 from 48 a day earlier.
The weak sentiment in the markets is reflected in the 24-hour liquidation statistics as well. The 24-hour liquidation statistics from Coinglass reveals long positions far exceeding short 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 $254 million, comprising long positions of $194 million and short positions of $60 million.
Overall crypto market capitalization has shed 0.90 percent in the past 24 hours to $2.65 trillion. The 24-hour trading volume has also declined 24 percent to $101 billion. Around 25 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent whereas around 23 are trading with overnight losses of more than a percent.
Bitcoin (BTC), the largest cryptocurrency is trading 0.76 percent lower at $79,997.46. The current price is around 37 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has however gained 1.7 percent in the past week, limiting year-to-date losses to 8.6 percent.
Bitcoin Spot ETF products in the U.S. witnessed net outflows of $269 million on Thursday versus net inflows of $46 million on Wednesday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with outflows of $129 million followed by iShares Bitcoin Trust ETF (IBIT) that recorded outflows of $98 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) has dropped 1.4 percent overnight as it traded at $2,283.47. 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 $104 million on Thursday versus net inflows of $12 million on Wednesday.
Ethereum has slipped two notches to the 65th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Bitcoin's crypto market dominance has increased to 60.48 percent. At the same time, Ethereum's share of the of the crypto market has declined to 10.41 percent. Amidst the mild risk aversion, stablecoins have edged up to 12.15 percent of the overall crypto market.
4th ranked BNB (BNB) lost more than a percent overnight resulting in price decreasing to $640.01. BNB is trading 53 percent below the all-time high of $1,370.55 touched on October 13, 2025.
5th ranked XRP (XRP) dropped 0.83 percent overnight and is currently trading at $1.39, around 64 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) edged down 0.01 percent overnight to $88.81. SOL's current price is around 70 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall however rallied 0.41 percent overnight and is currently changing hands at $0.3494. 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 2.2 percent overnight and is currently trading at $0.1071. DOGE is trading 85 percent below the peak price of $0.7376 recorded on May 8, 2021.
10th ranked Hyperliquid (HYPE) dropped 0.21 percent in the past 24 hours. HYPE is trading at $42.41, around 29 percent below the all-time high of $59.39 recorded on September 18, 2025.
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