India, April 14 -- Cryptocurrencies rebounded emphatically in the past 24 hours, lifting overall market capitalization by close to 5 percent. Expectations of a progress in talks to end the U.S.-Iran war as well as the slide in crude oil prices boosted market sentiment, triggering bullish momentum and a short squeeze. Bitcoin touched a high of $74,933 and Ethereum climbed to a level of $2,395 during the 24-hour period.
Sentiment for cryptocurrencies has also been boosted by an assessment that Bank of Japan would not be hiking rates at its next review due on April 28. The expectation is attributed to the recent speech by Bank of Japan governor Kazuo Ueda who appeared to consciously avoid hints of a rate hike. Markets had been wary of a likel...