Avila Sebastian

Cryptocurrencies rallied and Bitcoin touched a fresh high despite data from the U.S. revealing an uptick in consumer price inflation along expected lines. Sentiment was also boosted by Republicans securing a majority in the U.S. House of Representatives and the continuing strong inflows to Bitcoin Spot ETF products. Crypto market capitalization touched a high of $3.06 trillion and Bitcoin touched a fresh peak of $93,434 in the past 24 hours.

Fed Chair Jerome Powell's remarks on Thursday that the economy was not sending any signals that needed the Fed to be in a hurry to lower rates impacted market sentiment across asset classes and regions.

Cryptocurrencies declined as Fed Chair Jerome Powell hinted at the Fed being in no hurry to cut rates. Massive outflows from Bitcoin Spot ETF products in the U.S. on Thursday also dampened market sentiment. Overall crypto market capitalization dropped to $2.89 trillion, and Bitcoin touched a low of $86,682 in the past 24 hours.

Mixed trend prevails in world markets ahead of key earnings updates and economic data releases..

Crypto market sentiment turned volatile even as anticipation of a crypto-friendly regulatory regime in the U.S. heightened..

Crypto market sentiment continues to be positive amidst U.S. President-elect Donald Trump nominating hedge fund manager Scott Bessent for the post of Treasury Secretary. The Dollar's retreat and the easing in bond yields also supported sentiment.

Anxiety ahead of the release of the recent FOMC minutes and fears of stringent trade tariffs by the new U.S. administration weighed on global market sentiment.

World market spotlight has turned on the PCE-based inflation readings due from the U.S. on Wednesday..

Uncertainty regarding monetary policy weighed on markets amidst an expected rise in inflation in the Euro Area and an unexpected increase in inflation in Tokyo..

Crypto market capitalization increased close to 2 percent in the past 24 hours amidst strong Fed rate cut hopes and expectations of a pro-crypto regulatory environment in the U.S. The easing in bond yields as well as the Dollar's retreat boosted sentiment for cryptocurrencies.