Cryptocurrencies are trading on a mixed note on Friday morning even as markets assessed the geopolitical situation in the Middle East, the outlook on the artificial intelligence trade, the massive outflows from U.S-listed Bitcoin Spot ETF products, the dollar's strengthening as well as the continued surge in crude oil prices.
A renewed positive outlook on the global AI trade triggered by the strong earnings forecast and indications of robust AI demand from majors like SpaceX and Super Micro Computers bolstered sentiments in tech sector, lifting cryptocurrency markets alongside. Overall crypto market capitalization has surged more than two and a half percent and Bitcoin touched a high of $83,593 in the past 24 hours.
Sentiment in the crypto market suffered amidst a global selloff in AI related stocks. South Korea's KOSPI index declined 3.7 percent whereas Japan's Nikkei 225 shed more than a percent. The tech-heavy Nasdaq Composite is currently trading below the flatline. Overall crypto market capitalization has declined more than half percent whereas Bitcoin traded between $82,446 and $81,107.
A sharp downward repricing in rate hike expectations from the Federal Reserve abetted a rebound in crypto markets, lifting Bitcoin to a 24-hour high of $82,539. The dollar's retreat as well as a decline in crude oil prices supported crypto market sentiment, lifting overall crypto market capitalization more than 1.5 percent in the past 24 hours.
October 16, 2026 16:06 ET Monthly consumer price inflation data and retail sales figures were the main news from the U.S. economy this week. In Europe, monthly GDP figures from the U.K. gained attention. External trade data from China was in focus in Asia. Elsewhere, the International Monetary Fund released its latest projections for the global economy.
