India, Sept. 25 -- Cryptocurrencies rebounded early on Friday amidst a pause in the bond selloff and a decline in crude oil prices. Crude oil price benchmarks have both declined more than a percent, helped by reports that the U.S. and Iran were exploring a phased deal to reopen the Strait of Hormuz.
A broad decline in global bond yields helped sentiment towards cryptocurrencies. Ten-year bond yields eased in Canada, Germany, France, U.K., Italy, Japan as well as Australia, However, it inter alia hardened in the U.S., Spain as well as Hong Kong.
The dollar's retreat also supported crypto market sentiment. The six-currency Dollar Index which measures the U.S. Dollar's strength against a basket of 6 currencies is currently trading at 100.99,...