India, April 29 -- Cryptocurrency market capitalization declined more than 3 percent in the past 24 hours amidst a bearish sentiment, triggered by outflows from digital asset investment products and anxiety ahead of the looming Fed review of interest rates.
The Fed's review of interest rates is due to be announced on Wednesday. Markets overwhelmingly expect the Fed to hold rates at current level.
According to the CME FedWatch tool that tracks the expectations of interest rate traders, expectation that interest rates would continue at the same high level is 97.3 percent for the Fed review in May and 88.4 percent for the review in June. Rate cut expectations grow higher only subsequently and probability assigned to a pause falls to 70 perce...