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Cryptocurrency News Articles
Bitcoin Rallied Closer to Its Previous All-Time High Even as the Broader Crypto Market Showed Mixed Trends
May 21, 2025 at 06:16 pm
Bitcoin rallied closer to its previous all-time high even as the broader crypto market showed mixed trends amidst a deteriorating U.S. fiscal outlook
Bitcoin price rose closer to its previous all-time high on Wednesday, even as the broader crypto market showed mixed trends.
The crypto market capitalization has increased by 0.5 percent overnight to $3.35 trillion. The 24-hour trading volume has also decreased by 1.2 percent to $128 billion.
Bitcoin gained 0.9 percent overnight to trade at $106,211 which is 3 percent below the all-time high of $109,114 reached on January 20. The 24-hour trading range was between $108,024 and $104,207. Bitcoin has been trading above the $100,000 level for 13 days.
According to data from iShares, inflows into Bitcoin-based Spot ETF products in the U.S. recorded $329 million on Tuesday versus $667 million on Monday. Among the iShares products, iShares Bitcoin Trust (IBIT) topped with $288 million.
Also, Ethereum price decreased by 0.11 percent in the past 24 hours to trade at $2,525.55 which is 48 percent below the all-time high. Ether traded between $2,614 and $2,447 in the past 24 hours.
According to iShares, U.S. inflows into Ethereum-based Spot ETF products amounted to $65 million on Tuesday versus $14 million on Monday.
Bitcoin's market share stands at 63.04 percent whereas Ethereum currently accounts for 9.1 percent of the overall crypto market. Among the top 10 cryptocurrencies, 8th ranked Dogecoin and 9th ranked Cardano both gained more than 1.5 percent overnight. 10th ranked TRON witnessed a price decline of 0.47 percent in the past 24 hours.
Among the top 100 cryptocurrencies, 37th ranked OFFICIAL TRUMP (TRUMP) topped with an addition of 9.8 percent. 25th ranked Pi (PI) followed with gains of 6.9 percent.
95th ranked Pyth Network (PYTH) is the greatest laggard among the top 100 cryptocurrencies with an overnight decline of 4.9 percent. 30th ranked Aave (AAVE) also declined 4.3 percent in the past 24 hours.
Meanwhile, CoinShares' Digital Asset Fund Flows Weekly report for the week ended May 17 showed inflows of $785 million as compared with inflows of $882 million during the prior week.
Year-to-date inflows have increased to $7.52 billion whereas the assets under management have jumped to $172.9 billion. According to the report, Bitcoin topped flows by asset and United States topped flows by country during the past week.
Bitcoin-based products recorded inflows of $557 million followed by Ethereum-based products that witnessed inflows of $205 million. Sui-based products recorded inflows of $9.3 million. Short Bitcoin products had inflows of $5.9 million and XRP-based products had inflows of $4.9 million. Multi-asset products however witnessed a decline of $2.86 million.
Multi-asset products, Chainlink products and Short Bitcoin products continue to record negative flows on a year-to-date basis.
More than 85.5 percent of the cumulative AUM of $172.9 billion is attributed to Bitcoin products which account for an AUM of $148 billion. Bitcoin's dominance of crypto market is much lower, at close to 63 percent.
AUM of Ethereum-based products stood at $13.8 billion. Multi-asset portfolios command assets under management of $6.8 billion. An AUM of $1.6 billion is attributed to Solana-based products. XRP-based products have AUM of $1.42 billion followed by Sui-based products with an AUM of $332 million.
United States witnessed inflows of $681 million. Germany saw inflows of $86.3 million followed by Hong Kong that recorded inflows of $24.2 million. Australia had inflows of $13.5 million. Sweden recorded outflows of $16.3 million followed by Canada that had outflows of $13.5 million.
Of the cumulative AUM of $172.9 billion, $131.2 billion or 75.6 percent is in United States. Canada follows with an AUM of $6.2 billion whereas Switzerland accounts for an Aوم
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- Arbitrum’s 200 million ARB Gaming Catalyst Program, now rebranded to Arbitrum Gaming Ventures, has announced its first $10 million cohort of investments and grants.
- Jun 07, 2025 at 02:10 am
- Backed by VCs including Paradigm, Framework, and Bitkraft, Arbitrum Gaming Ventures was approved in June 2024, with the aim of boosting game projects built on Arbitrum.
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