India, Aug. 4 -- Sentiment in crypto markets improved as markets reacted to hints of a U.S.-Iran peace deal. The plunge in crude oil prices that followed, the inflows to U.S.-listed Bitcoin Spot ETF products, as well as weak labor market data from the U.S. helped lift crypto market sentiment.
Both the crude oil benchmarks have declined more than 4 percent, dragging down bond yields and thereby the opportunity cost of holding cryptocurrencies.
The positive sentiment in Wall Street also supported sentiment in the cryptocurrency market. With the tech-heavy Nasdaq Composite Index surging almost 1.6 percent, cryptocurrencies have gained around quarter percent in the past 24 hours. Bitcoin has touched a 24-hour high of $64,163 amidst renewed di...