India, Nov. 12 -- Cryptocurrencies continue to trade in a bearish grip while global markets remain volatile amidst persisting concerns about the tech sector. Overwhelming expectations of another Fed rate hike in December weighs on market sentiment ahead of the release of producer price inflation readings from the U.S. on Friday morning.
The CME FedWatch tool that tracks the expectations of interest rate traders shows an 87-percent probability for a quarter percentage rate hike and a 13-percent likelihood of a half-percentage rate hike.
Overall cryptocurrency market capitalization has plunged to $2.41 trillion, and Bitcoin traded between $72,357 and $74,191 during the past 24 hours.
Data from Coinglass shows aggregate crypto liquidations ...