Minor Rebound In Crypto Markets
Cryptocurrencies are trading in the green amidst a revival in market sentiment. The dollar’s retreat, an easing in bond yields and a slight increase in rate cut expectations supported an uptick in cryptocurrencies. A slight reduction in outflows from Bitcoin and Ether Spot ETF products in the U.S. also boosted sentiment. Crypto market capitalization increased more than 1 percent overnight while Bitcoin recorded a 24-hour high of $104,535.
The 6-currency Dollar Index which measures the dollar’s strength against a basket of 6 currencies is currently at 99.97, versus 100.20 at the previous close. The dollar’s retreat came after the index touched a high of 100.36 on Wednesday.
Bond yields eased across regions and tenors, providing support…
