Bitcoin led cryptocurrencies higher as markets cheered the strong quarterly results from AI giant NVIDIA. The positive earnings helped curtail fears about the tech sector prospects in general and the AI narrative in particular, boosting the prices of cryptocurrencies. A surge in inflows to U.S.-listed Bitcoin and Ethereum Spot ETF products on Wednesday also supported the jump in cryptocurrency prices.
Overall cryptocurrency market capitalization has rallied more than 2 percent in the past 24 hours while Bitcoin jumped to a 24-hour high of $69,953.53.
Data from Coinglass shows short positions surpassing long positions in the 24-hour liquidation statistics, implying a short squeeze. 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 $565 million comprising long positions of $127 million and short positions of $438 million.
Overall cryptocurrency market capitalization has rallied 2.3 percent in the past 24 hours to $2.34 trillion. Along with the surge in prices, the 24-hour trading volume jumped 37 percent overnight to $129 billion.
Cryptocurrencies associated with AI & Big Data rallied 1.9 percent. Meme category cryptos also witnessed an addition of 1.8 percent in market capitalization. The Made in America cryptocurrencies recorded an overnight addition of 2.1 percent in market capitalization. Market capitalization of the cryptocurrencies identified for U.S. Strategic Crypto Reserve gained 2.9 percent overnight.
Amidst the risk-on sentiment, and a market capitalization of $315 billion, market share of stablecoins has decreased to 13.42 percent of the overall crypto market. Bitcoin commands a market share of 57.90 percent whereas Ethereum accounts for 10.62 percent of the overall crypto market.
Around 55 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent. Likewise, almost 65 percent of the top 100 cryptocurrencies are trading with weekly gains of more than a percent. 59th ranked pippin (PIPPIN) topped with overnight gains of 17.7 percent and weekly gains of more than 74 percent. The meme category cryptocurrency touched an all-time high a few hours ago.
The CMC Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the prevailing sentiment in the cryptocurrency market has increased to 16 from 11 a day earlier. Both the readings however connote a state of “extreme fear” in the market. Over the past 52 weeks, the index ranged between 76 (extreme greed) recorded on May 23 and 5 (extreme fear) recorded on February 6.
Bitcoin (BTC), the largest cryptocurrency is trading 2.1 percent higher at $67,831.34. The current price is around 46 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has added 2.9 percent in the past week but is saddled with year-to-date losses of around 22.5 percent….
Read More: Bitcoin Jumps As AI Fears Recede
