Cryptos Tumble Amidst Energy Fears and Tech Sell-Off

Cryptocurrency prices declined on Thursday amidst global market anxieties over geopolitical risks to energy supplies and tech sector woes. Brent Crude had closed above $100, and the Nasdaq Composite suffered a more than 2 percent erosion.

The overall cryptocurrency market capitalization fell by over 1 percent, with Bitcoin trading between $65,760 and $64,611 in the past 24 hours. The price of BTC was also weighed down by expectations of a possible rate hike by the Federal Reserve, with markets anticipating a 34 percent chance for a quarter percent increase in July and a 56 percent chance in September.

The outflows from U.S.-listed Bitcoin Spot ETF products further dampened market sentiment, with net outflows totaling $225 million on Thursday. Trading volumes saw a 6 percent spike, however, which helped limit the losses for digital assets. Ethereum's price fell by 2.3 percent to $1,880.89, while BNB slipped 0.79 percent and XRP lost 2.7 percent overnight.