India, Aug. 7 -- A broad-based rally is visible in the cryptocurrency market, lifting market capitalization around 2.2 percent in the past 24 hours. Resumption of inflows to Bitcoin Spot ETF products in the U.S., a weak dollar, as well as regulatory pronouncements from the U.S. bolstered crypto market sentiment. The crypto rally also coincided with a rally in Wall Street Futures, a softening in sovereign bond yields as well as a surge in the prices of the yellow metal.
The abatement in outflows from Bitcoin spot ETF products in the U.S. supported crypto market sentiment. Bitcoin-based Spot ETF products in the U.S. recorded inflows of $92 million on Wednesday as compared with outflows of $196 million on Tuesday and outflows of $324 million ...