Bitcoin Rebounds As Warsh Says Inflation Risks Are Down

WASHINGTON (dpa-AFX) - Cryptocurrencies rallied emphatically during the past 24 hours amidst recent comments from Federal Reserve Chair Kevin Warsh. Bitcoin jumped to a 24-hour high of $61,323 while overall crypto market capitalization has increased close to 4 percent during the same period.At the…

At the ECB Central Banking Forum at Sintra, Portugal, the new Fed Chair Kevin Warsh stated that inflation risks have come down. He however refused to issue any forward guidance regarding monetary policy. An expected decline in the monthly jobs data from the U.S. as well as the dollar's weakness also supported sentiment. The six-currency Dollar Index has declined to 101.06 from 101.39 a day earlier.

Crypto market sentiment, as measured by the CMC Crypto Fear and Greed Index has improved significantly to 21 from 18 a day earlier while progressing to the fear zone from the extreme fear zone. It was at 18 (extreme fear) a day ago and 25 (fear) a month ago.

Breadth appeared to back the bounce in the market as close to 70 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent. Only 7 of the top 100 cryptocurrencies are trading with overnight losses of 1 percent or more.

During the past 24 hours, the liquidation of long positions stood at $163 million as compared to liquidation of short positions that exceeded $307 million, implying a mild short squeeze. Amidst the liquidation trends, aggregate crypto market capitalization has jumped 3.7 percent in the past 24 hours to $2.11 trillion. The jump in overall crypto market capitalization was accompanied by a 13-percent spike in trading volumes.

Bitcoin (BTC), the largest cryptocurrency is trading 4.5 percent higher at $61,239. The current price is around 51 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency is still saddled with losses of more than 30 percent on a year-to-date basis.

Bitcoin Spot ETF products in the U.S. witnessed net outflows increasing to $296 million on Wednesday from $223 million on Tuesday. iShares Bitcoin Trust (IBIT) topped with net outflows of $219 million.

Bitcoin has improved to the 14th rank in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. Bitcoin is now positioned between 13th ranked Meta Platforms and 15th ranked Samsung. Bitcoin is the only cryptocurrency ranked within the top 100 in the above-mentioned global ranking.

Ethereum (ETH) jumped 4.7 percent overnight as it traded at $1,645.83. The leading alternate coin is trading 67 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $1,648.49 and $1,564.10. However, Ethereum is still holding on to year-to-date losses are close to 45 percent.

Ethereum Spot ETF products in the U.S. witnessed net inflows of $15 million on Wednesday versus net outflows of $28 million on Tuesday. iShares Ethereum Trust ETF (ETHA) topped with net inflows of $37 million.

4th ranked BNB (BNB) rallied more than 3 percent overnight resulting in price increasing to $555.69. BNB is trading 59 percent below the all-time high of $1,370.55 touched on October 13, 2025.

6th ranked XRP (XRP), a payments-focused cryptocurrency rallied 3.8 percent overnight and is currently trading at $1.07, around 72 percent below the all-time high of $3.84 touched on January 4, 2018.

The price of 7th ranked Solana (SOL) jumped 9.1 percent overnight to $81.63. SOL's current price is around 72 percent below its all-time-high of $294.33 recorded on January 19, 2025. Solana Spot ETF products in the U.S. witnessed net inflows of $1 million on Wednesday.

TRON (TRX) ranked 8th overall edged up 0.03 percent overnight and is currently changing hands at $0.3164. The trading price is 28 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.

9th ranked Hyperliquid (HYPE) gained 2.7 percent overnight, to trade at $64.49, around 16 percent below the all-time high of $76.85 recorded on June 16. Hyperliquid Spot ETF products in the U.S. witnessed net inflows of $3 million on Wednesday.

Memecoin Dogecoin (DOGE) ranked 10th overall added 4.2 percent overnight and is currently trading at $0.0738. DOGE is trading 90 percent below the peak price of $0.7376 recorded on May 8, 2021.

For More Cryptocurrency News, visit rttnews.com