India, Aug. 20 -- An emphatic rally engulfed crypto markets amidst a confluence of multiple positive catalysts that converged on an otherwise tepid market environment. Crypto markets cheered the liquidity boost announced by the U.S. Treasury Dept, the massive inflows to U.S.-listed Bitcoin Spot ETF products as well as a renewed crypto push by the White House that renewed hopes of a passage of the Clarity Act. The liquidation of short positions that followed, have lifted crypto market capitalization to $2.43 trillion, implying an overnight surge of 9.6 percent.
Bitcoin touched high of $72,397 during the past 24 hours while overall crypto market capitalization has touched a high of $2.44 trillion. The CMC Crypto Fear and Greed Index that tra...