India, July 24 -- Bitcoin is trading firmly above the flatline whereas major altcoins recorded massive declines in prices over the past 24 hours. The broad-based slippage in the cryptocurrency market is attributed to profit-taking, leverage unwinding as well as the recent regulatory uncertainty in the U.S.
Anxiety ahead of the interest rate decision by the European Central Bank on Thursday morning as well as the Federal Reserve's interest rate announcement on Wednesday also weighed on sentiment. Both the central banks are expected to hold rates steady.
The weekly update on initial jobless claims as well as the flash PMI readings for July due from the U.S. on Thursday morning also swayed market sentiment.
Markets also factored in the incr...