India, Sept. 3 -- Diminishing expectations of a quarter-percentage rate hike by the Federal Reserve in the FOMC decision to be announced on September 16 boosted sentiment in cryptocurrency markets. The easing in global bond yields, the U.S. dollar's retreat as well as hopes of favorable regulatory measures in the U.S. also aided the uptick in cryptocurrency prices.
Overall cryptocurrency market capitalization has jumped to $2.64 trillion, on an overnight basis while Bitcoin is trading 3.5 percent above the previous day's levels at $79,798.
Market expectations regarding the Fed's monetary policy action on September 16 has tilted towards a pause. According to the CME FedWatch tool, the likelihood of a quarter-percentage rate hike on Septemb...