India, July 2 -- Cryptocurrencies rallied emphatically during the past 24 hours amidst recent comments from Federal Reserve Chair Kevin Warsh. Bitcoin jumped to a 24-hour high of $61,323 while overall crypto market capitalization has increased close to 4 percent during the same period.
At the ECB Central Banking Forum at Sintra, Portugal, the new Fed Chair Kevin Warsh stated that inflation risks have come down. He however refused to issue any forward guidance regarding monetary policy. An expected decline in the monthly jobs data from the U.S. as well as the dollar's weakness also supported sentiment. The six-currency Dollar Index has declined to 101.06 from 101.39 a day earlier.
Crypto market sentiment, as measured by the CMC Crypto Fear...