India, Aug. 14 -- Aggregate market capitalization of cryptocurrencies declined around a percent in the past 24 hours as markets reacted to the whipsawing crude oil prices and the hardening in bond yields. Increase in outflows from U.S.-listed Bitcoin Spot ETF products that signaled weak institutional demand as well as the ongoing friction in the Middle East and Strait of Hormuz added to the negative sentiment. Bitcoin is currently trading near $62,689, with overnight losses of more than a percent.
Brent oil futures for October settlement are currently trading 0.38 percent lower at $86.74, after ranging between $88.68 and $86.02. The benchmark had closed at $87.07 a day earlier. WTI crude oil futures for September settlement are currently t...