Major digital assets traded mostly flat or posted modest losses on Friday as stock markets dipped following disappointing earnings from several large U.S. technology companies.
Bitcoin (BTC) is trading flat over the past 24 hours at $90,200, while Ethereum (ETH) fell 3.5% to $3,070. Among other large-cap coins, BNB, XRP, and Solana all traded flat on the day at $876, $2, and $132, respectively.
The total cryptocurrency market capitalization is holding steady at around $3.58 trillion, unchanged over the past 24 hours, with a 24-hour trading volume of $153 billion. Bitcoin continues to dominate the market with a 57.1% share, while Ethereum represents 11.8% of total crypto capitalization.
The top gainers over the past 24 hours include Mantle (MNT), which rose 8.2% to $1.23; Hyperliquid (HYPE), up 5.1% at $29.68; and Bitcoin Cash (BCH), which gained 3.6% to $578.38 on $371 million of trading activity.
The top losers over the past 24 hours include Aptos (APT), which fell 4.9% to $1.62; Pepe (PEPE), down 4.1% at $0.054; and Cosmos Hub (ATOM), which declined 3.9% to $2.10.
Liquidations and ETF flows
Over the past 24 hours, cryptocurrency markets recorded roughly $437 million in liquidations, according to Coinglass, including $285 million in long positions and $152 million in short positions.
Bitcoin accounted for the largest share, with more than $157 million liquidated, followed by Ethereum at $139 million, while other altcoins totaled nearly $31 million.
In the exchange-traded fund (ETF) space, Bitcoin ETFs recorded over $77 million in outflows after two consecutive days of gains, while Ethereum ETFs had $42 million in outflows. Meanwhile, XRP ETFs added $16 million, and Solana ETFs gained more than $11 million, according to SoSoValue data.
Tech Downturn
Experts say Friday’s crypto market drop was mostly due to weakness in the tech sector, which also hurt broader markets. Disappointing earnings from Oracle and high spending put pressure on growth stocks, sending the Nasdaq down 1.9%, the S&P 500 down 1.3%, and the Dow Jones down 0.6%.
Broadcom also contributed to the decline, Bloomberg reported, as worries about profit margins outweighed strong AI-related revenue. Its shares have fallen more than 10% on the day so far.
“U.S. and European equities were steady after the Fed’s less-hawkish stance, though AI-linked heavyweights weighed on tech sentiment as capital expenditure surged faster than earnings,” said Iliya Kalchev, Nexo Dispatch Analyst, in comments shared with The Defiant. “Gold and industrial metals paused after a strong week boosted by easier U.S. policy, while oil firmed on renewed supply risks.”
Kalchev also noted consumer caution, pointing to Costco’s results as evidence that demand for lower-priced goods remains strong.
