India, July 13 -- Risk aversion triggered by flare-up in the Middle East as well as the spike in crude oil prices that has followed, dragged down crypto market sentiment. Lingering anxiety ahead of Federal Reserve Chair Kevin Warsh's two-day testimony before Congress starting on Tuesday as well as the release of the U.S. inflation readings for June on Tuesday also exacerbated the bearish sentiment in cryptocurrency markets.
Overall crypto market capitalization decreased more than 2 percent during the past 24 hours while Bitcoin touched a low of $62,065 during the period.
The drop in cryptocurrency markets come amidst a weak sentiment in the Wall Street indexes. While sovereign bond yields have hardened across regions, crude oil prices are...