India, May 12 -- The U.S.-Iran impasse that impacted sentiment across global markets reverberated in the cryptocurrency markets also. The spike in crude oil prices and the potential upward pressure on inflation also impacted market sentiment. Markets also digested earnings update from Mara Holdings that witnessed earnings hit due to Bitcoin losses. Overall cryptocurrency market capitalization has decreased more than half percent in the past 24 hours.
Anxiety ahead of the CPI data release for April due on Tuesday morning has also weighed on crypto market sentiment. The Middle East war and the more than 76 percent year-to-date spike in crude oil prices has exacerbated worries about a hawkish monetary policy outlook worldwide.
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